Quantbot Technologies LP acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 145,000 shares of the technology company’s stock, valued at approximately $8,997,000.
A number of other hedge funds also recently bought and sold shares of SSNC. Havemeyer Place LP purchased a new position in shares of SS&C Technologies during the fourth quarter worth approximately $26,000. EFG International AG purchased a new stake in shares of SS&C Technologies in the 4th quarter valued at $29,000. Osterweis Capital Management Inc. purchased a new stake in shares of SS&C Technologies in the 2nd quarter valued at $40,000. Fifth Third Bancorp grew its holdings in shares of SS&C Technologies by 216.4% during the 4th quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock valued at $42,000 after purchasing an additional 329 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of SS&C Technologies by 66.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 500 shares of the technology company’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 96.90% of the company’s stock.
SS&C Technologies Stock Up 1.0%
Shares of SS&C Technologies stock opened at $82.95 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.06 and a current ratio of 1.06. SS&C Technologies Holdings, Inc. has a 52-week low of $61.40 and a 52-week high of $91.07. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 23.84 and a beta of 1.07. The company’s 50 day moving average price is $71.82 and its 200-day moving average price is $70.80.
SS&C Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. SS&C Technologies’s dividend payout ratio is presently 34.48%.
Wall Street Analyst Weigh In
SSNC has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of SS&C Technologies from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Weiss Ratings upgraded shares of SS&C Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, July 24th. DA Davidson reiterated a “buy” rating and issued a $96.00 price objective on shares of SS&C Technologies in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.25.
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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