StockNews.com Upgrades SS&C Technologies (NASDAQ:SSNC) to Strong-Buy

SS&C Technologies (NASDAQ:SSNC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Raymond James boosted their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 7th. DA Davidson increased their price target on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Monday. UBS Group boosted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC increased their target price on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $89.50.

SS&C Technologies Price Performance

SSNC stock opened at $86.71 on Monday. 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 firm has a market cap of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. The company’s fifty day simple moving average is $78.10 and its 200 day simple moving average is $75.32. SS&C Technologies has a 12-month low of $59.53 and a 12-month high of $87.54.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. On average, analysts expect that SS&C Technologies will post 5.26 earnings per share for the current year.

Insider Transactions at SS&C Technologies

In related news, CEO William C. Stone sold 247,300 shares of the 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 owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,000 shares of company stock worth $34,461,478 in the last 90 days. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Several institutional investors have recently made changes to their positions in SSNC. Kestra Investment Management LLC purchased a new stake in SS&C Technologies during the 4th quarter worth about $39,000. Parkside Financial Bank & Trust lifted its holdings in shares of SS&C Technologies by 76.1% in 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 in the last quarter. Financial Perspectives Inc bought a new position in shares of SS&C Technologies in the fourth quarter valued at approximately $51,000. Rialto Wealth Management LLC purchased a new position in SS&C Technologies during the fourth quarter valued at approximately $64,000. Finally, CENTRAL TRUST Co bought a new stake in SS&C Technologies during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.