Sheets Smith Wealth Management Invests $220,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sheets Smith Wealth Management purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the technology company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in SS&C Technologies by 127.0% in the fourth quarter. Nordea Investment Management AB now owns 242,712 shares of the technology company’s stock valued at $14,839,000 after acquiring an additional 135,775 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in SS&C Technologies by 22.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock valued at $6,368,000 after acquiring an additional 19,374 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in shares of SS&C Technologies during the fourth quarter worth about $2,388,000. Mackenzie Financial Corp increased its position in shares of SS&C Technologies by 18.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,017,953 shares of the technology company’s stock worth $62,207,000 after purchasing an additional 161,165 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of SS&C Technologies by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock valued at $71,063,000 after purchasing an additional 68,359 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $62.78 on Tuesday. The stock has a fifty day moving average price of $62.50 and a 200 day moving average price of $59.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. 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 $15.53 billion, a P/E ratio of 25.01 and a beta of 1.42.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $1.39 billion. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current 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 paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.53%. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TheStreet raised SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. UBS Group raised their price objective on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. DA Davidson reaffirmed a “buy” rating and issued a $78.00 target price on shares of SS&C Technologies in a report on Tuesday, April 16th. Jefferies Financial Group boosted their price target on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Citigroup raised their price objective on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

About SS&C Technologies

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.