Cornerstone Investment Partners LLC cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 781,654 shares of the technology company’s stock after selling 6,857 shares during the period. SS&C Technologies makes up approximately 2.7% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 21st largest holding. Cornerstone Investment Partners LLC owned about 0.31% of SS&C Technologies worth $37,324,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SSNC. Vanguard Group Inc. increased its stake in shares of SS&C Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,029,098 shares of the technology company’s stock valued at $1,502,583,000 after acquiring an additional 266,741 shares during the last quarter. Pzena Investment Management LLC increased its stake in SS&C Technologies by 19.9% in the third quarter. Pzena Investment Management LLC now owns 10,688,624 shares of the technology company’s stock valued at $510,382,000 after purchasing an additional 1,772,233 shares in the last quarter. FMR LLC boosted its position in shares of SS&C Technologies by 11.9% during the second quarter. FMR LLC now owns 6,495,268 shares of the technology company’s stock worth $377,180,000 after purchasing an additional 692,031 shares in the last quarter. Cantillon Capital Management LLC boosted its position in shares of SS&C Technologies by 19.7% during the third quarter. Cantillon Capital Management LLC now owns 4,386,719 shares of the technology company’s stock worth $209,466,000 after purchasing an additional 720,803 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in shares of SS&C Technologies by 8.7% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,205,804 shares of the technology company’s stock valued at $244,231,000 after buying an additional 337,606 shares during the period. Institutional investors and hedge funds own 83.14% of the company’s stock.
SS&C Technologies Stock Performance
Shares of SSNC opened at $57.58 on Wednesday. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 22.06 and a beta of 1.42. SS&C Technologies Holdings, Inc. has a 12 month low of $45.25 and a 12 month high of $82.46. The firm has a fifty day simple moving average of $52.85 and a 200 day simple moving average of $54.04. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24.
SS&C Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, November 30th. SS&C Technologies’s dividend payout ratio is currently 30.65%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on SSNC shares. Needham & Company LLC reduced their target price on SS&C Technologies from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, October 28th. StockNews.com started coverage on SS&C Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Raymond James dropped their target price on shares of SS&C Technologies from $83.00 to $63.00 and set a “strong-buy” rating on the stock in a report on Friday, October 28th. DA Davidson reduced their price target on shares of SS&C Technologies to $70.00 in a report on Tuesday, November 1st. Finally, Truist Financial dropped their price objective on shares of SS&C Technologies from $75.00 to $55.00 in a report on Tuesday, December 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and an average price target of $64.73.
About SS&C Technologies
SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.
- Get a free copy of the StockNews.com research report on SS&C Technologies (SSNC)
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