SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Holdings Increased by Quadrant Capital Group LLC

Posted by Defense World Staff on Jun 5th, 2023

Quadrant Capital Group LLC increased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 285.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591 shares of the technology company’s stock after acquiring an additional 1,178 shares during the period. Quadrant Capital Group LLC’s holdings in SS&C Technologies were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased 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 purchasing an additional 1,809,055 shares during the period. Vanguard Group Inc. raised its position in SS&C Technologies by 2.0% in the third quarter. Vanguard Group Inc. now owns 20,990,573 shares of the technology company’s stock worth $1,002,300,000 after acquiring an additional 401,503 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in SS&C Technologies by 18.2% in the 4th quarter. Pzena Investment Management LLC now owns 12,635,958 shares of the technology company’s stock valued at $657,828,000 after acquiring an additional 1,947,334 shares during the last quarter. Boston Partners lifted its holdings in SS&C Technologies by 9.9% in the 4th quarter. Boston Partners now owns 8,453,275 shares of the technology company’s stock valued at $442,484,000 after acquiring an additional 757,999 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of SS&C Technologies by 1.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,609,305 shares of the technology company’s stock worth $396,140,000 after purchasing an additional 106,037 shares during the last quarter. Institutional investors and hedge funds own 83.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SSNC. JPMorgan Chase & Co. initiated coverage on shares of SS&C Technologies in a report on Wednesday, March 15th. They set an “overweight” rating and a $68.00 target price for the company. Raymond James lifted their target price on SS&C Technologies from $63.00 to $74.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 8th. Needham & Company LLC increased their price target on SS&C Technologies from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Credit Suisse Group boosted their price objective on SS&C Technologies from $78.00 to $83.00 in a report on Friday, April 28th. Finally, StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 26th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and an average target price of $68.67.

SS&C Technologies Price Performance

SSNC opened at $56.61 on Monday. The stock has a fifty day moving average price of $55.96 and a 200 day moving average price of $55.79. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. SS&C Technologies Holdings, Inc. has a 1 year low of $45.25 and a 1 year high of $65.36. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 24.30 and a beta of 1.42.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. SS&C Technologies’s payout ratio is 34.33%.

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.