Handelsbanken Fonder AB raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,029 shares of the technology company’s stock after purchasing an additional 11,440 shares during the quarter. Handelsbanken Fonder AB’s holdings in SS&C Technologies were worth $7,636,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Xponance Inc. lifted its holdings in shares of SS&C Technologies by 5.7% in the 3rd quarter. Xponance Inc. now owns 27,277 shares of the technology company’s stock valued at $2,421,000 after buying an additional 1,460 shares during the period. Choreo LLC grew its position in SS&C Technologies by 2.0% during the third quarter. Choreo LLC now owns 23,268 shares of the technology company’s stock worth $2,065,000 after buying an additional 466 shares during the period. AlphaCore Capital LLC boosted its stake in shares of SS&C Technologies by 18.6% during the 3rd quarter. AlphaCore Capital LLC now owns 4,353 shares of the technology company’s stock worth $386,000 after acquiring an additional 682 shares in the last quarter. US Bancorp DE boosted its stake in shares of SS&C Technologies by 1.4% during the 3rd quarter. US Bancorp DE now owns 19,661 shares of the technology company’s stock worth $1,745,000 after acquiring an additional 265 shares in the last quarter. Finally, MAI Capital Management increased its stake in SS&C Technologies by 77.4% in the 3rd quarter. MAI Capital Management now owns 2,686 shares of the technology company’s stock valued at $238,000 after purchasing an additional 1,172 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.
SS&C Technologies Stock Performance
Shares of SSNC stock opened at $75.29 on Monday. The company’s 50-day simple moving average is $81.46 and its 200-day simple moving average is $84.53. SS&C Technologies Holdings, Inc. has a one year low of $69.00 and a one year high of $91.07. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 23.83 and a beta of 1.17. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.07 and a current ratio of 1.07.
SS&C Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, March 2nd. SS&C Technologies’s dividend payout ratio is currently 34.18%.
Wall Street Analyst Weigh In
Several research firms have weighed in on SSNC. Needham & Company LLC lowered their target price on SS&C Technologies from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 6th. DA Davidson reaffirmed a “buy” rating and issued a $106.00 price target on shares of SS&C Technologies in a report on Friday, February 6th. Raymond James Financial reissued a “strong-buy” rating on shares of SS&C Technologies in a research note on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SS&C Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.
Check Out Our Latest Analysis on SSNC
SS&C Technologies Company Profile
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
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