Needham & Company LLC Raises SS&C Technologies (NASDAQ:SSNC) Price Target to $74.00

SS&C Technologies (NASDAQ:SSNC) had its price target increased by analysts at Needham & Company LLC from $70.00 to $74.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 20.70% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. Truist Financial boosted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. DA Davidson restated a “buy” rating and issued a $78.00 price objective on shares of SS&C Technologies in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. 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 company’s stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average target price of $71.22.

SS&C Technologies Trading Down 0.4 %

Shares of SSNC opened at $61.31 on Friday. SS&C Technologies has a 52-week low of $46.61 and a 52-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. The firm’s fifty day moving average is $62.88 and its two-hundred day moving average is $59.07. The stock has a market cap of $15.16 billion, a PE ratio of 25.76 and a beta of 1.43.

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

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SSNC. Norges Bank acquired a new position in shares of SS&C Technologies during the fourth quarter worth about $168,860,000. Junto Capital Management LP boosted its holdings in SS&C Technologies by 183.0% in the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock valued at $89,904,000 after purchasing an additional 951,269 shares in the last quarter. Boston Partners boosted its holdings in SS&C Technologies by 5.3% in the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock valued at $455,894,000 after purchasing an additional 435,377 shares in the last quarter. KBC Group NV boosted its holdings in SS&C Technologies by 243.1% in the fourth quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock valued at $31,029,000 after purchasing an additional 359,741 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its holdings in SS&C Technologies by 571.4% in the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock valued at $21,518,000 after purchasing an additional 348,563 shares in the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

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.