DA Davidson Issues Pessimistic Forecast for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC) had its price objective dropped by research analysts at DA Davidson from $102.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would indicate a potential upside of 31.46% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. UBS Group lifted their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James increased their price target on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 7th. Royal Bank of Canada raised their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $97.17.

SS&C Technologies Price Performance

SSNC stock opened at $76.07 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50 day moving average price is $83.42 and its 200 day moving average price is $78.43. The firm has a market cap of $18.74 billion, a P/E ratio of 25.36 and a beta of 1.31. SS&C Technologies has a 1 year low of $59.63 and a 1 year high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. On average, sell-side analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at approximately $2,050,648. The trade was a 49.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Douglas White sold 71,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. The trade was a 91.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its position in SS&C Technologies by 283.1% during the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after acquiring an additional 3,901,227 shares in the last quarter. Norges Bank acquired a new stake in SS&C Technologies in the fourth quarter valued at approximately $205,475,000. Bank of America Corp DE lifted its position in shares of SS&C Technologies by 64.9% during the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock worth $169,379,000 after purchasing an additional 880,058 shares in the last quarter. Senator Investment Group LP boosted its stake in shares of SS&C Technologies by 133.7% in the fourth quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock valued at $115,123,000 after purchasing an additional 869,175 shares during the period. Finally, AQR Capital Management LLC grew its holdings in SS&C Technologies by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock valued at $172,038,000 after purchasing an additional 780,616 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

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.