California Public Employees Retirement System Lowers Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

California Public Employees Retirement System decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,304,176 shares of the technology company’s stock after selling 2,740 shares during the quarter. California Public Employees Retirement System owned 0.53% of SS&C Technologies worth $79,698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners lifted its stake in SS&C Technologies by 5.3% in the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock worth $455,894,000 after acquiring an additional 435,377 shares during the last quarter. Nomura Holdings Inc. lifted its stake in SS&C Technologies by 571.4% in 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 last quarter. Sixth Street Partners Management Company L.P. purchased a new position in SS&C Technologies in the third quarter worth approximately $11,296,000. Pzena Investment Management LLC lifted its stake in SS&C Technologies by 1.4% in the third quarter. Pzena Investment Management LLC now owns 14,229,448 shares of the technology company’s stock worth $747,615,000 after acquiring an additional 197,934 shares during the last quarter. Finally, Oribel Capital Management LP purchased a new position in SS&C Technologies in the third quarter worth approximately $8,596,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSNC. Truist Financial lifted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Royal Bank of Canada lifted 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. Needham & Company LLC lifted 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. TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Finally, DA Davidson reissued a “buy” rating and set a $78.00 price objective on shares of SS&C Technologies in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.78.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $61.54 on Thursday. The firm’s fifty day simple moving average is $62.91 and its 200-day simple moving average is $59.05. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 25.86 and a beta of 1.43. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $65.86. 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 announced its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. As a group, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 4.61 earnings per share for the current year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.56%. SS&C Technologies’s payout ratio is 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.