SS&C Technologies (NASDAQ:SSNC) Price Target Increased to $86.00 by Analysts at Royal Bank of Canada

SS&C Technologies (NASDAQ:SSNC) had its price target boosted by equities researchers at Royal Bank of Canada from $75.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.76% from the company’s previous close.

Several other brokerages have also issued reports on SSNC. DA Davidson lifted their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.25.

SS&C Technologies Trading Up 1.2 %

Shares of NASDAQ:SSNC traded up $0.91 during trading on Thursday, reaching $76.27. 66,404 shares of the company were exchanged, compared to its average volume of 980,084. The firm has a market capitalization of $18.72 billion, a PE ratio of 30.34 and a beta of 1.38. The business’s fifty day simple moving average is $71.59 and its 200-day simple moving average is $65.56. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $76.93. 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) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping 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 net margin of 12.33% and a return on equity of 17.43%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, research analysts anticipate that SS&C Technologies will post 4.66 EPS for the current year.

Insider Transactions at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 590,690 shares of company stock worth $43,377,625. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its position in SS&C Technologies by 0.3% during the first quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock valued at $934,595,000 after purchasing an additional 46,211 shares during the period. Diamond Hill Capital Management Inc. lifted its position in SS&C Technologies by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after purchasing an additional 53,080 shares during the period. Burgundy Asset Management Ltd. lifted its position in SS&C Technologies by 4.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares during the period. Price T Rowe Associates Inc. MD lifted its position in SS&C Technologies by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after purchasing an additional 25,183 shares during the period. Finally, Millennium Management LLC lifted its position in SS&C Technologies by 49.2% during the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after purchasing an additional 1,120,961 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

About SS&C Technologies

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.