SS&C Technologies (NASDAQ:SSNC) had its target price lifted by UBS Group from $52.00 to $56.00 in a research report sent to investors on Tuesday, 99wallstreet.com reports. UBS Group currently has a buy rating on the technology company’s stock.
Other research analysts have also issued reports about the company. William Blair lowered SS&C Technologies from an outperform rating to a market perform rating in a research note on Tuesday. Royal Bank of Canada increased their price objective on SS&C Technologies to $60.00 and gave the stock an outperform rating in a research note on Friday, January 12th. DA Davidson increased their price objective on SS&C Technologies to $54.00 and gave the stock a buy rating in a research note on Friday, January 12th. Jefferies Group reiterated a buy rating on shares of SS&C Technologies in a research note on Friday, January 12th. Finally, Needham & Company LLC reiterated a buy rating and set a $60.00 price objective (up from $44.00) on shares of SS&C Technologies in a research note on Friday, January 12th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $48.82.
Shares of SS&C Technologies (SSNC) traded up $1.23 during mid-day trading on Tuesday, reaching $49.71. The company had a trading volume of 3,122,291 shares, compared to its average volume of 3,156,317. The company has a market capitalization of $9,980.00, a PE ratio of 47.34, a P/E/G ratio of 1.61 and a beta of 1.08. SS&C Technologies has a 52-week low of $30.82 and a 52-week high of $51.39. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 0.96.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.69, for a total transaction of $813,800.00. Following the completion of the transaction, the chief financial officer now directly owns 17,500 shares in the company, valued at $712,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 60,000 shares of company stock valued at $2,414,600 over the last quarter. Corporate insiders own 17.60% of the company’s stock.
Several large investors have recently made changes to their positions in SSNC. Janus Henderson Group PLC increased its stake in shares of SS&C Technologies by 5,137.5% in the second quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock valued at $772,938,000 after buying an additional 19,739,127 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of SS&C Technologies in the third quarter valued at $64,532,000. Atlantic Trust Group LLC acquired a new stake in shares of SS&C Technologies in the third quarter valued at $55,411,000. Koch Industries Inc. acquired a new stake in shares of SS&C Technologies in the second quarter valued at $719,000. Finally, State Street Corp increased its stake in shares of SS&C Technologies by 20.9% in the second quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock valued at $115,706,000 after buying an additional 521,727 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
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SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
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