Punch & Associates Investment Management Inc. acquired a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 111,173 shares of the technology company’s stock, valued at approximately $6,898,000.
A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of SS&C Technologies in the second quarter worth about $25,000. Havemeyer Place LP bought a new position in SS&C Technologies during the 4th quarter valued at approximately $26,000. EFG International AG purchased a new stake in SS&C Technologies in the 4th quarter worth approximately $29,000. Osterweis Capital Management Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter worth approximately $40,000. Finally, Fifth Third Bancorp increased its stake in shares of SS&C Technologies by 216.4% during the fourth quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock valued at $42,000 after buying an additional 329 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.
SS&C Technologies Stock Up 0.1%
NASDAQ:SSNC opened at $83.05 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day moving average price is $72.77 and its 200-day moving average price is $70.91. The company has a market capitalization of $19.49 billion, a PE ratio of 23.86 and a beta of 1.07. SS&C Technologies Holdings, Inc. has a 1-year low of $61.40 and a 1-year high of $90.26.
SS&C Technologies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 1.4%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s dividend payout ratio (DPR) is currently 31.03%.
Analysts Set New Price Targets
A number of analysts recently commented on SSNC shares. Weiss Ratings raised SS&C Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday, July 24th. JPMorgan Chase & Co. lowered their price objective 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. Wall Street Zen upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group decreased their target price on SS&C Technologies from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.25.
Read Our Latest Research Report on SSNC
SS&C Technologies Profile
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.
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