DA Davidson Reaffirms Buy Rating for SS&C Technologies (NASDAQ:SSNC)

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research report issued on Tuesday, Benzinga reports. They currently have a $78.00 price objective on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 29.81% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Citigroup lifted their target price on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. TheStreet upgraded SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Needham & Company LLC lifted their target price on SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Truist Financial upped their price target on SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $70.78.

SS&C Technologies Stock Up 0.3 %

NASDAQ SSNC traded up $0.19 on Tuesday, hitting $60.09. 128,825 shares of the stock were exchanged, compared to its average volume of 954,158. The company has a market cap of $14.85 billion, a PE ratio of 25.22 and a beta of 1.43. The company has a 50-day moving average price of $62.91 and a 200-day moving average price of $58.68. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $65.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, hitting the consensus estimate of $1.13. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. Sell-side analysts anticipate that SS&C Technologies will post 4.61 EPS for the current fiscal year.

Institutional Trading of SS&C Technologies

Several large investors have recently added to or reduced their stakes in SSNC. Advisor Group Holdings Inc. lifted its holdings in SS&C Technologies by 0.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 25,838 shares of the technology company’s stock worth $1,346,000 after buying an additional 162 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in SS&C Technologies by 14.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after purchasing an additional 166 shares during the last quarter. Carret Asset Management LLC lifted its holdings in shares of SS&C Technologies by 2.5% during the fourth quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after purchasing an additional 175 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of SS&C Technologies by 2.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,583 shares of the technology company’s stock valued at $395,000 after acquiring an additional 181 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after purchasing an additional 191 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

About SS&C Technologies

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.