SS&C Technologies’ (SSNC) Buy Rating Reaffirmed at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $90.00 price target on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 19.76% from the company’s current price.

Several other research analysts have also recently weighed in on SSNC. DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

SS&C Technologies Trading Down 0.8 %

SS&C Technologies stock opened at $75.15 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $77.02. The stock has a market cap of $18.59 billion, a P/E ratio of 29.94 and a beta of 1.38. The firm’s fifty day moving average price is $74.43 and its 200-day moving average price is $67.66.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies announced that its board has authorized a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 in the last ninety days. 15.40% of the stock is owned by company insiders.

Institutional Trading of SS&C Technologies

A number of institutional investors have recently modified their holdings of SSNC. SG Americas Securities LLC raised its position in SS&C Technologies by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after purchasing an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after buying an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of SS&C Technologies by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after acquiring an additional 11,497 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SS&C Technologies in the second quarter worth $1,661,000. Finally, Burgundy Asset Management Ltd. boosted its holdings in SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after acquiring an additional 201,632 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

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.