Needham & Company LLC Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

SS&C Technologies (NASDAQ:SSNC) had its price objective hoisted by equities researchers at Needham & Company LLC from $90.00 to $105.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 28.36% from the company’s current price.

Several other equities analysts also recently weighed in on SSNC. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Raymond James raised their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a research report on Monday. DA Davidson restated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, UBS Group upped their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SS&C Technologies has an average rating of “Buy” and an average target price of $85.75.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $81.80 on Friday. The firm has a market cap of $20.26 billion, a PE ratio of 29.32 and a beta of 1.38. SS&C Technologies has a twelve month low of $59.53 and a twelve month high of $82.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $77.51 and a 200 day moving average price of $74.84.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. Sell-side analysts predict that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,000 shares of company stock valued at $34,461,478. 15.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new position in shares of SS&C Technologies during the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust boosted its position in shares of SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after buying an additional 229 shares during the period. Financial Perspectives Inc purchased a new position in shares of SS&C Technologies during the fourth quarter worth $51,000. CENTRAL TRUST Co acquired a new stake in shares of SS&C Technologies in the fourth quarter valued at $65,000. Finally, Global X Japan Co. Ltd. raised its holdings in shares of SS&C Technologies by 193.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 871 shares of the technology company’s stock valued at $66,000 after buying an additional 574 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 engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.