Quantbot Technologies LP purchased a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 145,000 shares of the technology company’s stock, valued at approximately $8,997,000. Quantbot Technologies LP owned 0.06% of SS&C Technologies at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AXA S.A. boosted its stake in SS&C Technologies by 1.4% in the 2nd quarter. AXA S.A. now owns 9,372 shares of the technology company’s stock worth $776,000 after purchasing an additional 130 shares during the period. Cullen Frost Bankers Inc. grew its holdings in SS&C Technologies by 0.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 17,271 shares of the technology company’s stock valued at $1,510,000 after buying an additional 142 shares in the last quarter. AlphaCore Capital LLC increased its position in shares of SS&C Technologies by 3.5% during the fourth quarter. AlphaCore Capital LLC now owns 4,507 shares of the technology company’s stock valued at $394,000 after buying an additional 154 shares during the period. United Community Bank increased its position in shares of SS&C Technologies by 13.7% during the fourth quarter. United Community Bank now owns 1,285 shares of the technology company’s stock valued at $112,000 after buying an additional 155 shares during the period. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of SS&C Technologies by 10.3% in the fourth quarter. 1620 Investment Advisors Inc. now owns 1,711 shares of the technology company’s stock worth $150,000 after buying an additional 160 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.
SS&C Technologies Stock Performance
Shares of SSNC opened at $82.95 on Friday. The company has a market cap of $19.46 billion, a PE ratio of 23.84 and a beta of 1.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $71.82 and a 200-day moving average price of $70.80. SS&C Technologies Holdings, Inc. has a 12-month low of $61.40 and a 12-month high of $91.07.
SS&C Technologies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s payout ratio is currently 34.48%.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, July 24th. Royal Bank Of Canada increased their target price on shares of SS&C Technologies from $89.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their price target on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, July 20th. DA Davidson restated a “buy” rating and set a $96.00 price target on shares of SS&C Technologies in a research report on Monday, July 27th. Finally, Jefferies Financial Group decreased their price target on shares of SS&C Technologies from $92.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $91.25.
Read Our Latest Analysis on SSNC
About SS&C Technologies
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
See Also
- Five stocks we like better than SS&C Technologies
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding SSNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report).
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
