SS&C Technologies (NASDAQ:SSNC) Stock Rating Lowered by Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) was downgraded by analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $78.00 price objective on the technology company’s stock, up from their previous price objective of $65.00. Needham & Company LLC’s price objective suggests a potential upside of 17.72% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. BidaskClub lowered SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Jefferies Financial Group upped their price target on SS&C Technologies from $55.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Credit Suisse Group upped their price target on SS&C Technologies from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. DA Davidson upped their price target on SS&C Technologies from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, ValuEngine upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $70.71.

NASDAQ:SSNC opened at $66.26 on Thursday. SS&C Technologies has a 12 month low of $42.51 and a 12 month high of $67.73. The stock has a 50 day moving average of $63.15 and a two-hundred day moving average of $55.28. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.64. The firm has a market cap of $16.70 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.29.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.11. SS&C Technologies had a return on equity of 19.25% and a net margin of 7.83%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $0.95 EPS. SS&C Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that SS&C Technologies will post 3.5 earnings per share for the current year.

In related news, CEO William C. Stone sold 255,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $58.84, for a total value of $15,004,200.00. Following the completion of the transaction, the chief executive officer now directly owns 31,931,624 shares in the company, valued at $1,878,856,756.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 72 shares of company stock valued at $4,373 over the last 90 days. Company insiders own 14.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in SS&C Technologies by 0.9% in the second quarter. BlackRock Inc. now owns 12,013,392 shares of the technology company’s stock worth $692,092,000 after acquiring an additional 104,581 shares during the period. FMR LLC grew its position in SS&C Technologies by 2.0% in the fourth quarter. FMR LLC now owns 7,460,750 shares of the technology company’s stock worth $458,089,000 after acquiring an additional 147,039 shares during the period. State Street Corp grew its position in SS&C Technologies by 1.0% in the third quarter. State Street Corp now owns 4,675,325 shares of the technology company’s stock worth $241,107,000 after acquiring an additional 47,581 shares during the period. Select Equity Group L.P. grew its position in SS&C Technologies by 22.3% in the third quarter. Select Equity Group L.P. now owns 3,520,078 shares of the technology company’s stock worth $181,530,000 after acquiring an additional 642,179 shares during the period. Finally, Marshall Wace North America L.P. grew its position in SS&C Technologies by 15.9% in the fourth quarter. Marshall Wace North America L.P. now owns 2,998,144 shares of the technology company’s stock worth $184,085,000 after acquiring an additional 412,175 shares during the period. Institutional investors own 83.45% of the company’s stock.

About SS&C Technologies

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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