Buckingham Research Lowers SS&C Technologies (NASDAQ:SSNC) Price Target to $67.00

SS&C Technologies (NASDAQ:SSNC) had its price target reduced by Buckingham Research from $72.00 to $67.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. DA Davidson cut shares of SS&C Technologies from a buy rating to a neutral rating in a research note on Tuesday. Zacks Investment Research cut shares of SS&C Technologies from a buy rating to a hold rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. restated a buy rating on shares of SS&C Technologies in a research note on Monday, July 1st. Jefferies Financial Group cut shares of SS&C Technologies from a buy rating to a hold rating and lifted their target price for the company from $58.00 to $64.00 in a research note on Wednesday, May 1st. Finally, BidaskClub upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Saturday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $68.64.

SSNC opened at $45.48 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.12 and a current ratio of 1.12. SS&C Technologies has a fifty-two week low of $40.96 and a fifty-two week high of $67.73. The company’s fifty day moving average price is $57.41. The stock has a market cap of $12.13 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Monday, July 29th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. SS&C Technologies had a net margin of 7.22% and a return on equity of 19.13%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.62 EPS. SS&C Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities research analysts anticipate that SS&C Technologies will post 3.51 EPS for the current year.

In other SS&C Technologies news, SVP Joseph J. Frank sold 10,141 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $59.89, for a total value of $607,344.49. Following the sale, the senior vice president now owns 9,910 shares in the company, valued at approximately $593,509.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in SSNC. Cullen Frost Bankers Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter worth about $25,000. Versant Capital Management Inc boosted its position in SS&C Technologies by 202.7% in the 1st quarter. Versant Capital Management Inc now owns 448 shares of the technology company’s stock valued at $28,000 after buying an additional 300 shares during the period. Quad Cities Investment Group LLC purchased a new stake in SS&C Technologies in the 1st quarter valued at about $48,000. Hudock Capital Group LLC purchased a new stake in SS&C Technologies in the 2nd quarter valued at about $42,000. Finally, Machina Capital S.A.S. purchased a new stake in SS&C Technologies in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 82.69% 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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