SS&C Technologies (NASDAQ:SSNC) Given New $92.00 Price Target at DA Davidson

SS&C Technologies (NASDAQ:SSNC) had its price objective upped by DA Davidson from $88.00 to $92.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 21.81% from the stock’s previous close.

A number of other analysts have also commented on SSNC. Royal Bank of Canada boosted their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC boosted their target price on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Stock Down 1.2 %

Shares of NASDAQ:SSNC opened at $75.53 on Friday. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $76.94. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 30.09 and a beta of 1.38. The business’s 50-day moving average is $72.07 and its 200-day moving average is $65.74. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies declared that its Board of Directors has authorized a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock worth $43,377,625 in the last 90 days. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC increased its holdings in shares of SS&C Technologies by 76.8% in the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after purchasing an additional 172 shares during the period. Innealta Capital LLC bought a new position in SS&C Technologies in the second quarter valued at $26,000. ST Germain D J Co. Inc. bought a new position in SS&C Technologies in the first quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in SS&C Technologies in the second quarter valued at $35,000. Finally, Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares during 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, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.