Carret Asset Management LLC Buys 175 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Carret Asset Management LLC boosted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,070 shares of the technology company’s stock after purchasing an additional 175 shares during the period. Carret Asset Management LLC’s holdings in SS&C Technologies were worth $432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new stake in shares of SS&C Technologies in the third quarter worth $26,000. Operose Advisors LLC purchased a new stake in shares of SS&C Technologies in the third quarter worth $34,000. Fortis Group Advisors LLC purchased a new stake in shares of SS&C Technologies in the third quarter worth $53,000. Tobam grew its stake in SS&C Technologies by 1,428.8% during the fourth quarter. Tobam now owns 1,009 shares of the technology company’s stock valued at $62,000 after acquiring an additional 943 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in SS&C Technologies during the third quarter valued at $53,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Down 1.1 %

NASDAQ SSNC traded down $0.68 during trading on Thursday, reaching $60.86. 250,037 shares of the company’s stock traded hands, compared to its average volume of 948,182. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 25.45 and a beta of 1.43. The company’s 50 day simple moving average is $62.88 and its two-hundred day simple moving average is $59.07. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.61 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s payout ratio is currently 40.34%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SSNC shares. UBS Group raised their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Truist Financial raised their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Citigroup raised their price target on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, Needham & Company LLC raised their price target on shares of SS&C Technologies from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and an average price target of $70.78.

SS&C Technologies Company Profile

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 comprising 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 consisting of claims adjudication, benefit management, care management, and business intelligence solutions.