Mackenzie Financial Corp Purchases 161,165 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Mackenzie Financial Corp lifted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,017,953 shares of the technology company’s stock after buying an additional 161,165 shares during the quarter. Mackenzie Financial Corp’s holdings in SS&C Technologies were worth $62,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Nordea Investment Management AB raised its holdings in shares of SS&C Technologies by 127.0% during the fourth quarter. Nordea Investment Management AB now owns 242,712 shares of the technology company’s stock worth $14,839,000 after acquiring an additional 135,775 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of SS&C Technologies by 22.8% during the fourth quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock worth $6,368,000 after acquiring an additional 19,374 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of SS&C Technologies during the fourth quarter worth $2,388,000. Bank of New York Mellon Corp raised its holdings in shares of SS&C Technologies by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock worth $71,063,000 after acquiring an additional 68,359 shares during the period. Finally, Nomura Holdings Inc. raised its holdings in shares of SS&C Technologies by 571.4% during the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock worth $21,518,000 after acquiring an additional 348,563 shares during the period. 96.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SSNC. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. DA Davidson reiterated a “buy” rating and issued a $78.00 price target on shares of SS&C Technologies in a research note on Tuesday. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Citigroup lifted their price target on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, UBS Group lifted their price target 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $70.78.

SS&C Technologies Stock Up 0.6 %

SS&C Technologies stock opened at $60.28 on Wednesday. The firm has a market capitalization of $14.90 billion, a PE ratio of 25.33 and a beta of 1.43. 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 company’s 50-day moving average is $62.90 and its 200-day moving average is $58.74. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting the consensus estimate of $1.13. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.61 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s payout ratio is 40.34%.

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.