Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in SS&C Technologies Holdings, Inc. $SSNC

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 71,480 shares of the technology company’s stock, valued at approximately $5,509,000.

A number of other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in shares of SS&C Technologies by 8.7% in the third quarter. ProShare Advisors LLC now owns 104,480 shares of the technology company’s stock worth $8,052,000 after acquiring an additional 8,373 shares during the period. Vise Technologies Inc. raised its holdings in shares of SS&C Technologies by 23.5% during the third quarter. Vise Technologies Inc. now owns 4,582 shares of the technology company’s stock worth $353,000 after purchasing an additional 872 shares during the last quarter. State of Wyoming purchased a new position in shares of SS&C Technologies during the third quarter worth $65,000. CHICAGO TRUST Co NA lifted its position in SS&C Technologies by 8.2% during the third quarter. CHICAGO TRUST Co NA now owns 11,978 shares of the technology company’s stock valued at $923,000 after purchasing an additional 907 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in SS&C Technologies by 11.8% during the third quarter. Asset Management One Co. Ltd. now owns 109,815 shares of the technology company’s stock valued at $8,463,000 after purchasing an additional 11,571 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SSNC. Royal Bank Of Canada upped their price target on shares of SS&C Technologies from $92.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, August 31st. DA Davidson lifted their price objective on SS&C Technologies from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. reduced their price objective on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Evercore raised SS&C Technologies to an “outperform” rating in a report on Friday, October 23rd. Finally, Needham & Company LLC upped their target price on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and an average target price of $96.57.

SS&C Technologies Stock Down 1.6%

SS&C Technologies stock opened at $78.31 on Friday. The stock has a market capitalization of $18.38 billion, a PE ratio of 22.50 and a beta of 1.04. SS&C Technologies Holdings, Inc. has a 12 month low of $61.40 and a 12 month high of $89.93. The business has a 50 day simple moving average of $81.12 and a 200-day simple moving average of $74.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. SS&C Technologies had a return on equity of 21.74% and a net margin of 12.76%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $1.57 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that SS&C Technologies Holdings, Inc. will post 6.38 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.30 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 1st. SS&C Technologies’s dividend payout ratio (DPR) is currently 34.48%.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.