Citigroup Raises SS&C Technologies (NASDAQ:SSNC) Price Target to $68.00

SS&C Technologies (NASDAQ:SSNC) had its target price lifted by Citigroup from $67.00 to $68.00 in a report issued on Thursday morning, AnalystRatings.com reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley lowered their target price on shares of SS&C Technologies from $63.00 to $57.00 and set an equal weight rating on the stock in a report on Friday, May 1st. ValuEngine upgraded SS&C Technologies from a sell rating to a hold rating in a research note on Tuesday, July 28th. BTIG Research restated a buy rating and issued a $72.00 target price on shares of SS&C Technologies in a research note on Thursday, April 30th. Zacks Investment Research upgraded SS&C Technologies from a sell rating to a hold rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of SS&C Technologies from $73.00 to $78.00 and gave the stock an overweight rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. SS&C Technologies has an average rating of Buy and a consensus target price of $66.75.

Shares of SSNC opened at $57.50 on Thursday. SS&C Technologies has a fifty-two week low of $29.51 and a fifty-two week high of $66.74. The business has a 50-day moving average of $56.68 and a 200 day moving average of $55.55. The firm has a market cap of $14.73 billion, a P/E ratio of 30.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.06 and a current ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Tuesday, July 28th. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.14. SS&C Technologies had a net margin of 10.85% and a return on equity of 20.41%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.91 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that SS&C Technologies will post 3.66 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of SS&C Technologies by 4.9% during the 1st quarter. BlackRock Inc. now owns 12,634,884 shares of the technology company’s stock worth $553,659,000 after acquiring an additional 593,770 shares during the last quarter. State Street Corp raised its position in SS&C Technologies by 1.1% during the first quarter. State Street Corp now owns 4,725,647 shares of the technology company’s stock valued at $207,078,000 after purchasing an additional 52,305 shares in the last quarter. Cantillon Capital Management LLC lifted its stake in SS&C Technologies by 1.2% during the second quarter. Cantillon Capital Management LLC now owns 4,182,652 shares of the technology company’s stock worth $236,237,000 after purchasing an additional 51,116 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SS&C Technologies by 26.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,718,197 shares of the technology company’s stock worth $119,111,000 after purchasing an additional 576,423 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SS&C Technologies by 5.9% during the 1st quarter. Geode Capital Management LLC now owns 2,565,587 shares of the technology company’s stock valued at $112,326,000 after purchasing an additional 143,259 shares during the last quarter. 81.20% of the stock is owned by institutional investors and hedge funds.

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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