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.
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
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.
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