SS&C Technologies (NASDAQ:SSNC) Price Target Increased to $74.00 by Analysts at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its target price upped by investment analysts at Needham & Company LLC from $70.00 to $74.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.84% from the company’s current price.

A number of other analysts also recently issued reports on the stock. TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Citigroup raised their price target 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. UBS Group raised their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Truist Financial raised their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned 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 $71.22.

SS&C Technologies Stock Down 0.1 %

NASDAQ:SSNC opened at $61.24 on Friday. The firm has a market cap of $15.14 billion, a P/E ratio of 24.40 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $65.86. The firm has a 50-day simple moving average of $62.78 and a two-hundred day simple moving average of $59.15.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. Analysts predict that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SS&C Technologies

Several large investors have recently added to or reduced their stakes in SSNC. Norges Bank purchased a new position in SS&C Technologies during the fourth quarter valued at approximately $168,860,000. Junto Capital Management LP lifted its holdings in SS&C Technologies by 183.0% during 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 lifted its holdings in SS&C Technologies by 5.3% during 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 lifted its holdings in SS&C Technologies by 243.1% during 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. lifted its holdings in SS&C Technologies by 571.4% during 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. 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.