SS&C Technologies (NASDAQ:SSNC) PT Raised to $86.00

SS&C Technologies (NASDAQ:SSNC) had its target price hoisted by stock analysts at Royal Bank of Canada from $75.00 to $86.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 13.86% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC lifted their price objective on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. DA Davidson lifted their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Trading Down 1.2 %

Shares of NASDAQ SSNC opened at $75.53 on Thursday. The company has a market cap of $18.54 billion, a PE ratio of 30.09 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50 day moving average price is $72.07 and its 200-day moving average price is $65.72. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. On average, equities research analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 590,690 shares of company stock worth $43,377,625. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in SS&C Technologies during the fourth quarter valued at about $168,860,000. Swedbank AB bought a new stake in SS&C Technologies during the 1st quarter valued at approximately $94,939,000. Millennium Management LLC raised its stake in SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after purchasing an additional 1,120,961 shares during the period. Junto Capital Management LP lifted its holdings in SS&C Technologies by 183.0% in the 4th quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after purchasing an additional 951,269 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in SS&C Technologies by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after purchasing an additional 571,334 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.