Van ECK Associates Corp reduced its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 71.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,275 shares of the technology company’s stock after selling 33,937 shares during the quarter. Van ECK Associates Corp’s holdings in SS&C Technologies were worth $824,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in SS&C Technologies during the second quarter worth about $1,043,987,000. Pzena Investment Management LLC acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at approximately $684,819,000. Bank of Montreal Can lifted its holdings in shares of SS&C Technologies by 4,424.6% during the 4th quarter. Bank of Montreal Can now owns 5,126,190 shares of the technology company’s stock worth $448,132,000 after acquiring an additional 5,012,893 shares during the period. Jupiter Topco LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter worth approximately $178,337,000. Finally, Norges Bank acquired a new stake in shares of SS&C Technologies during the 4th quarter worth approximately $242,846,000. Institutional investors own 96.90% of the company’s stock.
SS&C Technologies Stock Down 1.2%
Shares of SSNC opened at $83.65 on Friday. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 24.04 and a beta of 1.09. SS&C Technologies Holdings, Inc. has a 52 week low of $61.40 and a 52 week high of $90.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average of $75.33 and a 200-day moving average of $71.37.
SS&C Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 1st. SS&C Technologies’s payout ratio is currently 34.48%.
Analysts Set New Price Targets
Several research analysts have commented on SSNC shares. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, July 24th. JPMorgan Chase & Co. decreased their price target on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Weiss Ratings raised SS&C Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $96.00 price objective on shares of SS&C Technologies in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.
Get Our Latest Analysis on SSNC
SS&C Technologies Company 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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