DekaBank Deutsche Girozentrale Sells 92,923 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 65.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,927 shares of the technology company’s stock after selling 92,923 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in SS&C Technologies were worth $2,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putnam Investments LLC boosted its position in shares of SS&C Technologies by 19.8% in the third quarter. Putnam Investments LLC now owns 66,522 shares of the technology company’s stock valued at $3,177,000 after acquiring an additional 11,016 shares during the period. Graypoint LLC acquired a new stake in SS&C Technologies in the 4th quarter worth $410,000. Park Avenue Securities LLC increased its holdings in shares of SS&C Technologies by 4.3% during the 3rd quarter. Park Avenue Securities LLC now owns 4,863 shares of the technology company’s stock worth $232,000 after purchasing an additional 202 shares during the period. Vestmark Advisory Solutions Inc. raised its position in shares of SS&C Technologies by 3.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 41,605 shares of the technology company’s stock valued at $2,166,000 after buying an additional 1,479 shares during the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of SS&C Technologies by 56.9% in the third quarter. Westpac Banking Corp now owns 29,360 shares of the technology company’s stock valued at $1,402,000 after buying an additional 10,642 shares during the period. Institutional investors and hedge funds own 83.14% of the company’s stock.

SS&C Technologies Stock Down 0.3 %

NASDAQ SSNC opened at $57.55 on Friday. The stock’s 50 day simple moving average is $57.55 and its 200 day simple moving average is $54.42. SS&C Technologies Holdings, Inc. has a one year low of $45.25 and a one year high of $73.26. The firm has a market cap of $14.36 billion, a PE ratio of 23.21 and a beta of 1.42. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last announced its earnings results on Tuesday, February 7th. The technology company reported $1.16 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 company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.41 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. SS&C Technologies’s dividend payout ratio (DPR) is currently 32.26%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Credit Suisse Group raised their price objective on SS&C Technologies from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. StockNews.com started coverage on shares of SS&C Technologies in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Raymond James increased 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 research note on Wednesday, February 8th. JPMorgan Chase & Co. initiated coverage on shares of SS&C Technologies in a research report on Wednesday, March 15th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, Needham & Company LLC increased their price target on shares of SS&C Technologies from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $68.25.

SS&C Technologies 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.