SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Summit Global Investments

Summit Global Investments reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,622 shares of the technology company’s stock after selling 2,526 shares during the quarter. Summit Global Investments’ holdings in SS&C Technologies were worth $588,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in shares of SS&C Technologies by 49.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 6,684 shares of the technology company’s stock worth $408,000 after purchasing an additional 2,206 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in SS&C Technologies by 13.3% during the 4th quarter. Natixis Advisors L.P. now owns 474,817 shares of the technology company’s stock worth $29,015,000 after buying an additional 55,834 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of SS&C Technologies by 3.9% in the 4th quarter. Fisher Asset Management LLC now owns 34,256 shares of the technology company’s stock worth $2,093,000 after acquiring an additional 1,288 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of SS&C Technologies in the 4th quarter valued at approximately $246,000. Finally, Victory Capital Management Inc. raised its position in shares of SS&C Technologies by 20.0% during the 4th quarter. Victory Capital Management Inc. now owns 197,214 shares of the technology company’s stock valued at $12,052,000 after acquiring an additional 32,859 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SSNC shares. Jefferies Financial Group lifted their price objective on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 29th. TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. DA Davidson reaffirmed a “buy” rating and set a $78.00 target price on shares of SS&C Technologies in a report on Tuesday, April 16th. Finally, UBS Group boosted their price objective on SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

SS&C Technologies Stock Performance

Shares of SSNC opened at $61.81 on Friday. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $65.86. The firm has a market capitalization of $15.29 billion, a PE ratio of 24.63 and a beta of 1.42. The firm has a 50-day moving average price of $62.53 and a 200 day moving average price of $59.53. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

SS&C Technologies Company Profile

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 comprising 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 consisting of claims adjudication, benefit management, care management, and business intelligence solutions.