First Trust Advisors LP Trims Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,416 shares of the technology company’s stock after selling 60,026 shares during the period. First Trust Advisors LP owned about 0.14% of SS&C Technologies worth $16,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of SS&C Technologies by 7.8% during the 3rd quarter. BlackRock Inc. now owns 25,067,431 shares of the technology company’s stock valued at $1,196,968,000 after acquiring an additional 1,809,055 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SS&C Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,029,098 shares of the technology company’s stock valued at $1,502,583,000 after purchasing an additional 266,741 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of SS&C Technologies by 19.9% during the 3rd quarter. Pzena Investment Management LLC now owns 10,688,624 shares of the technology company’s stock worth $510,382,000 after purchasing an additional 1,772,233 shares during the last quarter. Boston Partners boosted its stake in SS&C Technologies by 15.3% during the third quarter. Boston Partners now owns 7,695,276 shares of the technology company’s stock worth $367,889,000 after buying an additional 1,023,361 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in shares of SS&C Technologies by 29.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,503,268 shares of the technology company’s stock valued at $358,281,000 after acquiring an additional 1,687,932 shares during the last quarter. Hedge funds and other institutional investors own 83.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 target price on shares of SS&C Technologies in a report on Thursday. Credit Suisse Group increased their target price on SS&C Technologies from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Truist Financial cut their price target on shares of SS&C Technologies from $75.00 to $55.00 in a research note on Tuesday, December 6th. TheStreet raised shares of SS&C Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 23rd. Finally, Raymond James raised their price target on shares of SS&C Technologies from $63.00 to $74.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies currently has an average rating of “Buy” and a consensus target price of $68.27.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $57.18 on Friday. The business has a fifty day moving average of $58.40 and a two-hundred day moving average of $54.09. The company has a market cap of $14.34 billion, a P/E ratio of 23.06 and a beta of 1.41. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. SS&C Technologies Holdings, Inc. has a one year low of $45.25 and a one year high of $79.06.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.13. SS&C Technologies had a return on equity of 18.53% and a net margin of 12.31%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. As a group, analysts predict that SS&C Technologies Holdings, Inc. will post 4.39 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, February 28th. SS&C Technologies’s dividend payout ratio (DPR) is 32.26%.

SS&C Technologies Company Profile

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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.