SS&C Technologies (SSNC) Price Target Increased to $75.00 by Analysts at Credit Suisse Group
SS&C Technologies (NASDAQ:SSNC) had its target price lifted by Credit Suisse Group from $68.00 to $75.00 in a research report sent to investors on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the technology company’s stock.
Several other equities research analysts have also issued reports on the company. Needham & Company LLC reaffirmed a strong-buy rating and set a $75.00 target price (up from $70.00) on shares of SS&C Technologies in a research report on Friday, February 15th. Buckingham Research began coverage on SS&C Technologies in a report on Thursday, January 24th. They issued a buy rating and a $65.00 price objective for the company. Jefferies Financial Group lowered SS&C Technologies from a buy rating to a hold rating and lifted their price objective for the stock from $58.00 to $64.00 in a report on Wednesday. BidaskClub raised SS&C Technologies from a buy rating to a strong-buy rating in a report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on SS&C Technologies and gave the stock a buy rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $70.00.
Shares of SS&C Technologies stock traded down $0.35 during trading hours on Wednesday, hitting $60.00. 1,750,882 shares of the company’s stock traded hands, compared to its average volume of 1,705,315. SS&C Technologies has a 12-month low of $40.96 and a 12-month high of $67.73. The firm has a market cap of $15.13 billion, a PE ratio of 22.90, a P/E/G ratio of 1.56 and a beta of 1.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.07 and a quick ratio of 1.07.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 157,500 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the transaction, the chief financial officer now owns 57,500 shares in the company, valued at approximately $3,416,075. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SSNC. Norges Bank bought a new position in SS&C Technologies in the 4th quarter worth about $108,590,000. Swedbank bought a new position in SS&C Technologies in the 1st quarter worth about $109,590,000. Findlay Park Partners LLP bought a new position in SS&C Technologies in the 1st quarter worth about $74,597,000. Frontier Capital Management Co. LLC boosted its stake in SS&C Technologies by 37.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,847,958 shares of the technology company’s stock worth $173,581,000 after purchasing an additional 1,042,182 shares during the period. Finally, Cantillon Capital Management LLC boosted its stake in SS&C Technologies by 37.1% in the 4th quarter. Cantillon Capital Management LLC now owns 3,561,949 shares of the technology company’s stock worth $160,679,000 after purchasing an additional 963,878 shares during the period. Institutional investors and hedge funds own 83.99% 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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