Raymond James Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

SS&C Technologies (NASDAQ:SSNC) had its price objective lifted by investment analysts at Raymond James from $85.00 to $95.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price objective points to a potential upside of 9.87% from the company’s current price.

SSNC has been the subject of a number of other research reports. UBS Group raised their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC raised their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $94.00 in a research report on Monday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SS&C Technologies currently has an average rating of “Buy” and an average target price of $87.00.

SS&C Technologies Stock Up 5.7 %

NASDAQ SSNC traded up $4.66 during midday trading on Friday, hitting $86.46. 2,186,217 shares of the company traded hands, compared to its average volume of 1,299,819. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $21.42 billion, a PE ratio of 30.99 and a beta of 1.38. The company’s 50-day simple moving average is $77.51 and its 200-day simple moving average is $74.84. SS&C Technologies has a 52 week low of $59.53 and a 52 week high of $87.50.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. As a group, equities research analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current year.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William C. Stone sold 247,300 shares of SS&C Technologies stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the transaction, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,000 shares of company stock worth $34,461,478. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors have recently modified their holdings of SSNC. Janus Henderson Group PLC increased its stake in shares of SS&C Technologies by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock valued at $1,191,774,000 after purchasing an additional 817,501 shares in the last quarter. State Street Corp increased its stake in shares of SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after purchasing an additional 121,223 shares in the last quarter. Cantillon Capital Management LLC increased its stake in shares of SS&C Technologies by 0.6% in the 4th quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company’s stock valued at $343,517,000 after purchasing an additional 25,895 shares in the last quarter. FMR LLC increased its stake in shares of SS&C Technologies by 1.5% in the 3rd quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock valued at $295,657,000 after purchasing an additional 58,389 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of SS&C Technologies by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,621,022 shares of the technology company’s stock valued at $268,075,000 after purchasing an additional 64,299 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.