SS&C Technologies (NASDAQ:SSNC) PT Raised to $61.00 at Jefferies Financial Group

SS&C Technologies (NASDAQ:SSNC) had its price objective increased by analysts at Jefferies Financial Group from $54.00 to $61.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential downside of 1.44% from the company’s current price.

A number of other equities research analysts have also commented on SSNC. Truist Financial upped their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. TheStreet upgraded SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. DA Davidson restated a “buy” rating and issued a $78.00 price objective on shares of SS&C Technologies in a research report on Tuesday, April 16th. Finally, Needham & Company LLC upped their price objective on SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.20.

SS&C Technologies Stock Performance

SSNC opened at $61.89 on Monday. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market cap of $15.30 billion, a P/E ratio of 24.66 and a beta of 1.43. The firm’s 50-day moving average price is $62.75 and its 200-day moving average price is $59.31.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in shares of SS&C Technologies by 30.8% during the 1st quarter. Van ECK Associates Corp now owns 73,275 shares of the technology company’s stock valued at $4,717,000 after buying an additional 17,258 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of SS&C Technologies by 7.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company’s stock valued at $543,000 after buying an additional 597 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of SS&C Technologies by 34.6% during the 1st quarter. Principal Financial Group Inc. now owns 18,422 shares of the technology company’s stock valued at $1,186,000 after buying an additional 4,732 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of SS&C Technologies by 19.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 35,949 shares of the technology company’s stock valued at $2,314,000 after buying an additional 5,831 shares in the last quarter. Finally, Cornerstone Investment Partners LLC lifted its position in shares of SS&C Technologies by 8.8% during the 1st quarter. Cornerstone Investment Partners LLC now owns 1,008,141 shares of the technology company’s stock valued at $64,894,000 after buying an additional 81,317 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.