Piper Sandler Trims SS&C Technologies (NASDAQ:SSNC) Target Price to $67.00 – MarketBeat

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SS&C Technologies (NASDAQ:SSNC – Get Rating) had its target price decreased by stock analysts at Piper Sandler from $89.00 to $67.00 in a report issued on Wednesday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 13.10% from the company’s previous close.
SSNC has been the subject of several other research reports. Raymond James dropped their target price on shares of SS&C Technologies from $95.00 to $93.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 5th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 29th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.
SS&C Technologies stock opened at $59.24 on Wednesday. SS&C Technologies has a fifty-two week low of $54.59 and a fifty-two week high of $84.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50 day moving average price of $61.27 and a 200 day moving average price of $71.71. The company has a market capitalization of $15.09 billion, a PE ratio of 19.88 and a beta of 1.53.
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SS&C Technologies (NASDAQ:SSNC – Get Rating) last posted its earnings results on Thursday, April 28th. The technology company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04). SS&C Technologies had a net margin of 15.59% and a return on equity of 20.78%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that SS&C Technologies will post 4.6 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. American Trust grew its stake in shares of SS&C Technologies by 26.3% during the first quarter. American Trust now owns 3,499 shares of the technology company’s stock worth $262,000 after purchasing an additional 728 shares in the last quarter. Bank of America Corp DE grew its stake in shares of SS&C Technologies by 3.7% during the first quarter. Bank of America Corp DE now owns 2,136,284 shares of the technology company’s stock worth $160,264,000 after purchasing an additional 77,069 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of SS&C Technologies by 117.8% during the first quarter. Verition Fund Management LLC now owns 160,918 shares of the technology company’s stock worth $12,072,000 after purchasing an additional 87,024 shares in the last quarter. M Holdings Securities Inc. acquired a new position in shares of SS&C Technologies during the first quarter worth $443,000. Finally, Neuberger Berman Group LLC grew its stake in shares of SS&C Technologies by 14.8% during the first quarter. Neuberger Berman Group LLC now owns 104,478 shares of the technology company’s stock worth $7,847,000 after purchasing an additional 13,480 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.
About SS&C Technologies (Get Rating)
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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.
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