Needham & Company LLC Has Lowered Expectations for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target lowered by investment analysts at Needham & Company LLC from $105.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target would indicate a potential upside of 22.65% from the company's previous close.

Several other research firms have also weighed in on SSNC. UBS Group raised their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Raymond James increased their price objective 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. StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Royal Bank of Canada upped their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $91.86.

SS&C Technologies Stock Up 0.9 %

Shares of NASDAQ:SSNC traded up $0.69 during midday trading on Friday, hitting $73.38. 1,867,751 shares of the stock were exchanged, compared to its average volume of 1,269,429. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73. The business's fifty day simple moving average is $80.93 and its two-hundred day simple moving average is $78.59. The company has a market capitalization of $18.08 billion, a PE ratio of 24.46 and a beta of 1.31.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.28 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts predict that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares of the company's stock, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company's stock, valued at $570,411.52. This represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in SS&C Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 20,215,026 shares of the technology company's stock valued at $1,531,895,000 after purchasing an additional 239,438 shares in the last quarter. Janus Henderson Group PLC lifted its stake in SS&C Technologies by 3.4% in the fourth quarter. Janus Henderson Group PLC now owns 16,598,958 shares of the technology company's stock valued at $1,257,869,000 after acquiring an additional 539,483 shares during the last quarter. Boston Partners lifted its stake in SS&C Technologies by 283.1% in the fourth quarter. Boston Partners now owns 5,279,386 shares of the technology company's stock valued at $400,161,000 after acquiring an additional 3,901,227 shares during the last quarter. Cantillon Capital Management LLC lifted its stake in SS&C Technologies by 0.6% in the fourth quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company's stock valued at $343,517,000 after acquiring an additional 25,895 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SS&C Technologies by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,158,478 shares of the technology company's stock valued at $239,353,000 after acquiring an additional 258,554 shares during the last quarter. 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.