NorthCrest Asset Manangement LLC Makes New $307,000 Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Posted by Defense World Staff on Jul 13th, 2023

NorthCrest Asset Manangement LLC bought a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,440 shares of the technology company’s stock, valued at approximately $307,000.

Several other large investors have also added to or reduced their stakes in SSNC. Machina Capital S.A.S. bought a new position in SS&C Technologies in the 1st quarter worth about $32,000. Natixis bought a new stake in shares of SS&C Technologies during the 4th quarter valued at about $33,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of SS&C Technologies by 181.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 716 shares of the technology company’s stock valued at $37,000 after acquiring an additional 462 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of SS&C Technologies during the 4th quarter valued at about $40,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of SS&C Technologies during the 4th quarter valued at about $66,000. Institutional investors own 82.42% of the company’s stock.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $60.23 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day simple moving average is $57.48 and its two-hundred day simple moving average is $57.20. The stock has a market capitalization of $15.00 billion, a P/E ratio of 25.85 and a beta of 1.43. SS&C Technologies Holdings, Inc. has a one year low of $45.25 and a one year high of $64.52.

SS&C Technologies (NASDAQ:SSNC – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. SS&C Technologies had a return on equity of 17.74% and a net margin of 11.29%. Analysts forecast that SS&C Technologies Holdings, Inc. will post 4.32 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. SS&C Technologies’s dividend payout ratio (DPR) is presently 34.33%.

Insider Activity

In other news, CFO Patrick J. Pedonti sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $60.03, for a total transaction of $12,006,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Credit Suisse Group lifted their price target on SS&C Technologies from $78.00 to $83.00 in a research report on Friday, April 28th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 26th. Finally, JPMorgan Chase & Co. began coverage on SS&C Technologies in a research report on Wednesday, March 15th. They set an “overweight” rating and a $68.00 price target for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $68.82.

SS&C Technologies Company Profile

(Free Report)

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions include portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions comprising claims adjudication, benefit management, care management, and business intelligence solutions.