SS&C Technologies (NASDAQ:SSNC) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. started coverage on shares of SS&C Technologies (NASDAQ:SSNC – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating and a $68.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.10% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group lifted their target price on SS&C Technologies from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Truist Financial cut their price target on SS&C Technologies from $75.00 to $55.00 in a report on Tuesday, December 6th. DA Davidson lifted their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price target on shares of SS&C Technologies in a report on Thursday, March 9th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $68.25.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $55.24 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. SS&C Technologies has a fifty-two week low of $45.25 and a fifty-two week high of $79.06. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 22.27 and a beta of 1.41. The stock has a fifty day moving average price of $58.63 and a 200-day moving average price of $53.96.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.13. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. SS&C Technologies had a net margin of 12.31% and a return on equity of 18.53%. SS&C Technologies’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share. As a group, equities analysts anticipate that SS&C Technologies will post 4.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Norges Bank bought a new position in shares of SS&C Technologies in the fourth quarter valued at approximately $124,570,000. Shapiro Capital Management LLC bought a new position in SS&C Technologies during the fourth quarter valued at about $118,298,000. Pzena Investment Management LLC increased its holdings in SS&C Technologies by 18.2% during the fourth quarter. Pzena Investment Management LLC now owns 12,635,958 shares of the technology company’s stock worth $657,828,000 after buying an additional 1,947,334 shares during the last quarter. BlackRock Inc. raised its position in SS&C Technologies by 7.8% in the third quarter. BlackRock Inc. now owns 25,067,431 shares of the technology company’s stock worth $1,196,968,000 after acquiring an additional 1,809,055 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in SS&C Technologies by 29.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,503,268 shares of the technology company’s stock valued at $358,281,000 after acquiring an additional 1,687,932 shares during the last quarter. 83.14% of the stock is currently owned by hedge funds and other institutional investors.

About SS&C Technologies

(Get Rating)

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.