Royal Bank of Canada Reiterates Buy Rating for SS&C Technologies (NASDAQ:SSNC)

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating reissued by equities researchers at Royal Bank of Canada in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $68.00 price target on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 18.26% from the company’s previous close.

A number of other equities analysts also recently commented on SSNC. Morgan Stanley decreased their target price on SS&C Technologies from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. BidaskClub upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group reduced their price target on shares of SS&C Technologies from $61.00 to $59.00 and set a “hold” rating for the company in a report on Monday, May 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $64.00 price objective on shares of SS&C Technologies in a report on Monday, July 27th. Finally, Piper Sandler lifted their price objective on shares of SS&C Technologies from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.75.

Shares of SSNC opened at $57.50 on Thursday. The business’s fifty day moving average price is $56.68 and its 200 day moving average price is $55.55. SS&C Technologies has a 12-month low of $29.51 and a 12-month high of $66.74. The stock has a market capitalization of $14.73 billion, a PE ratio of 30.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick 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 the Zacks’ consensus estimate 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that SS&C Technologies will post 3.66 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SSNC. CSat Investment Advisory L.P. boosted its position in shares of SS&C Technologies by 14.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,559 shares of the technology company’s stock valued at $68,000 after purchasing an additional 193 shares during the period. Mid Atlantic Financial Management Inc. ADV raised its position in SS&C Technologies by 3.2% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 6,210 shares of the technology company’s stock valued at $272,000 after buying an additional 195 shares during the period. Telemus Capital LLC boosted its position in SS&C Technologies by 0.3% during the 2nd quarter. Telemus Capital LLC now owns 67,570 shares of the technology company’s stock worth $3,814,000 after acquiring an additional 220 shares during the period. Autus Asset Management LLC grew its stake in SS&C Technologies by 0.3% during the 2nd quarter. Autus Asset Management LLC now owns 80,097 shares of the technology company’s stock valued at $4,523,000 after acquiring an additional 256 shares in the last quarter. Finally, Bellevue Asset Management LLC increased its holdings in shares of SS&C Technologies by 65.1% in the 1st quarter. Bellevue Asset Management LLC now owns 720 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the period. Institutional investors own 81.20% of the company’s stock.

SS&C Technologies Company Profile

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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