Cornerstone Investment Partners LLC Decreases Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornerstone Investment Partners LLC lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 926,824 shares of the technology company’s stock after selling 19,386 shares during the period. SS&C Technologies comprises approximately 3.2% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 13th biggest holding. Cornerstone Investment Partners LLC’s holdings in SS&C Technologies were worth $56,638,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SSNC. Advisor Group Holdings Inc. boosted its holdings in SS&C Technologies by 0.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 25,838 shares of the technology company’s stock valued at $1,346,000 after purchasing an additional 162 shares during the period. The Manufacturers Life Insurance Company boosted its stake in SS&C Technologies by 2.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,583 shares of the technology company’s stock valued at $395,000 after buying an additional 181 shares during the period. SkyView Investment Advisors LLC grew its position in SS&C Technologies by 4.0% during the third quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company’s stock worth $261,000 after buying an additional 192 shares in the last quarter. AlphaMark Advisors LLC grew its position in SS&C Technologies by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 9,240 shares of the technology company’s stock worth $565,000 after buying an additional 194 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in SS&C Technologies by 0.3% in the 4th quarter. Arizona State Retirement System now owns 61,366 shares of the technology company’s stock worth $3,750,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SSNC. Truist Financial lifted their price target on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Needham & Company LLC lifted their target price on shares of SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Citigroup raised their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.78.

SS&C Technologies Trading Down 0.0 %

NASDAQ SSNC traded down $0.03 during trading on Friday, hitting $60.44. 246,232 shares of the company’s stock traded hands, compared to its average volume of 947,378. The stock has a fifty day moving average of $62.89 and a two-hundred day moving average of $58.76. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $65.86. The firm has a market cap of $14.94 billion, a P/E ratio of 25.42 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.

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

SS&C Technologies Announces Dividend

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

SS&C Technologies 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.