Osmosis Investment Management UK Ltd acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,461 shares of the technology company’s stock, valued at approximately $525,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Havemeyer Place LP bought a new position in shares of SS&C Technologies during the 4th quarter valued at about $26,000. EFG International AG bought a new stake in SS&C Technologies during the 4th quarter worth approximately $29,000. Osterweis Capital Management Inc. acquired a new stake in SS&C Technologies during the 2nd quarter worth approximately $40,000. Fifth Third Bancorp raised its holdings in SS&C Technologies by 216.4% during the 4th quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock worth $42,000 after buying an additional 329 shares during the period. Finally, Litman Gregory Wealth Management LLC bought a new position in SS&C Technologies in the fourth quarter valued at approximately $44,000. 96.90% of the stock is currently owned by institutional investors.
SS&C Technologies Trading Down 0.7%
NASDAQ:SSNC opened at $82.99 on Wednesday. The company has a market cap of $19.47 billion, a P/E ratio of 23.85 and a beta of 1.07. SS&C Technologies Holdings, Inc. has a twelve month low of $61.40 and a twelve month high of $90.26. The business has a 50 day moving average price of $72.44 and a two-hundred day moving average price of $70.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09.
SS&C Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s dividend payout ratio (DPR) is presently 34.48%.
Wall Street Analysts Forecast Growth
SSNC has been the subject of several research analyst reports. Weiss Ratings upgraded shares of SS&C Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Wall Street Zen raised shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Royal Bank Of Canada increased their target price on SS&C Technologies from $89.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, UBS Group reissued a “buy” rating and issued a $99.00 price target on shares of SS&C Technologies in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.25.
Check Out Our Latest Analysis on SS&C Technologies
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.
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