DA Davidson Increases SS&C Technologies (NASDAQ:SSNC) Price Target to $92.00

SS&C Technologies (NASDAQ:SSNC) had its price objective lifted by stock analysts at DA Davidson from $88.00 to $92.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 21.81% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday. Needham & Company LLC lifted their price target on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $75.53 on Friday. The stock’s fifty day moving average price is $72.07 and its two-hundred day moving average price is $65.74. SS&C Technologies has a one year low of $46.61 and a one year high of $76.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $18.68 billion, a PE ratio of 30.09 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping 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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

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

Insider Activity at SS&C Technologies

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in SS&C Technologies during the 2nd quarter worth about $1,661,000. University of Texas Texas AM Investment Management Co. lifted its holdings in SS&C Technologies by 156.3% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 73,392 shares of the technology company’s stock worth $4,599,000 after buying an additional 44,762 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after purchasing an additional 6,624 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at about $1,904,000. Finally, Delphi Management Inc. MA lifted its stake in shares of SS&C Technologies by 33.2% in the 2nd quarter. Delphi Management Inc. MA now owns 28,282 shares of the technology company’s stock valued at $1,772,000 after purchasing an additional 7,057 shares during the period. 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.