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

SS&C Technologies (NASDAQ:SSNC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $90.00 price objective on the technology company's stock. Needham & Company LLC's price target points to a potential upside of 28.50% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. DA Davidson reissued a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC traded down $5.11 on Friday, reaching $70.04. The company's stock had a trading volume of 5,279,461 shares, compared to its average volume of 1,045,626. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $77.02. The stock has a market capitalization of $17.32 billion, a P/E ratio of 27.77 and a beta of 1.38. The stock's 50-day moving average is $74.43 and its two-hundred day moving average is $67.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts forecast that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares of the company's stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Normand A. Boulanger sold 130,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares of the company's stock, valued at approximately $25,144,958.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company's stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock valued at $44,821,055 over the last ninety days. Corporate insiders own 15.40% of the company's stock.

Institutional Investors Weigh In On SS&C Technologies

A number of hedge funds have recently bought and sold shares of the business. Quent Capital LLC increased its holdings in SS&C Technologies by 76.8% in the first quarter. Quent Capital LLC now owns 396 shares of the technology company's stock valued at $25,000 after buying an additional 172 shares during the last quarter. Innealta Capital LLC bought a new position in SS&C Technologies during the second quarter worth $26,000. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies in the second quarter worth $35,000. Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock worth $44,000 after purchasing an additional 693 shares during the period. Institutional investors and hedge funds 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.