Canada Pension Plan Investment Board Has $2.05 Million Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Posted by Defense World Staff on Feb 27th, 2023

Canada Pension Plan Investment Board cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 33.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,964 shares of the technology company’s stock after selling 21,200 shares during the period. Canada Pension Plan Investment Board’s holdings in SS&C Technologies were worth $2,052,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SSNC. Dark Forest Capital Management LP acquired a new stake in SS&C Technologies during the second quarter worth about $26,000. Benjamin Edwards Inc. boosted its stake in shares of SS&C Technologies by 49.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 813 shares of the technology company’s stock valued at $39,000 after purchasing an additional 268 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of SS&C Technologies in the 3rd quarter valued at approximately $45,000. EverSource Wealth Advisors LLC boosted its stake in shares of SS&C Technologies by 25.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,099 shares of the technology company’s stock valued at $53,000 after purchasing an additional 226 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of SS&C Technologies by 266.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,466 shares of the technology company’s stock valued at $85,000 after purchasing an additional 1,066 shares in the last quarter. 83.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SSNC shares. DA Davidson raised their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Credit Suisse Group raised their price objective on shares of SS&C Technologies from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. TheStreet upgraded shares of SS&C Technologies from a “c” rating to a “b-” rating in a report on Monday, January 23rd. Raymond James raised their price objective on shares of SS&C Technologies from $63.00 to $74.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 8th. Finally, Needham & Company LLC raised their price objective on shares of SS&C Technologies from $65.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies has a consensus rating of “Buy” and a consensus target price of $68.27.

SS&C Technologies Stock Down 0.9 %

SS&C Technologies stock opened at $59.94 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.13. SS&C Technologies Holdings, Inc. has a 52-week low of $45.25 and a 52-week high of $79.06. The firm has a 50 day moving average price of $57.05 and a two-hundred day moving average price of $54.19. The firm has a market cap of $15.10 billion, a price-to-earnings ratio of 24.17 and a beta of 1.40.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The technology company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.13. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. SS&C Technologies had a net margin of 12.31% and a return on equity of 18.57%. SS&C Technologies’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.39 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. SS&C Technologies’s dividend payout ratio is currently 32.26%.

SS&C Technologies Company Profile

(Get Rating)

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.