Evercore ISI assumed coverage on shares of SS&C Technologies (NASDAQ:SSNC) in a note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating and a $74.00 price target on the technology company’s stock. Evercore ISI’s target price would suggest a potential upside of 53.69% from the stock’s current price.
A number of other brokerages also recently weighed in on SSNC. ValuEngine downgraded SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. set a $70.00 price target on SS&C Technologies and gave the stock a “buy” rating in a research report on Thursday, November 1st. Needham & Company LLC boosted their price target on SS&C Technologies to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Deutsche Bank raised SS&C Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $72.00 in a research report on Monday, September 10th. Finally, Sandler O’Neill reissued a “buy” rating and set a $64.00 price target on shares of SS&C Technologies in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.23.
SSNC opened at $48.15 on Thursday. SS&C Technologies has a 52-week low of $39.73 and a 52-week high of $60.97. The stock has a market cap of $11.66 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.43 and a beta of 1.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.58 and a current ratio of 1.58.
In other news, Director Jonathan E. Michael bought 600 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were bought at an average price of $49.79 per share, with a total value of $29,874.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Smita Conjeevaram bought 3,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was purchased at an average cost of $48.52 per share, for a total transaction of $145,560.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $145,560. The disclosure for this purchase can be found here. Insiders bought 35,714 shares of company stock worth $1,672,420 in the last ninety days. 17.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in shares of SS&C Technologies in the second quarter valued at approximately $207,000. Signature Financial Management Inc. acquired a new stake in SS&C Technologies during the second quarter worth approximately $208,000. Sky Investment Group LLC acquired a new stake in SS&C Technologies during the third quarter worth approximately $216,000. Jane Street Group LLC acquired a new stake in SS&C Technologies during the second quarter worth approximately $224,000. Finally, Korea Investment CORP acquired a new stake in SS&C Technologies during the second quarter worth approximately $280,000. 84.57% of the stock is currently owned by institutional investors.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, performance measurement, reconciliation, reporting, processing, and clearing.
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