Sumitomo Mitsui Trust Group Inc. Sells 18,755 Shares of SS&C Technologies Holdings, Inc. $SSNC

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 461,686 shares of the technology company’s stock after selling 18,755 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SS&C Technologies were worth $35,582,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of SS&C Technologies during the 2nd quarter valued at $1,043,987,000. Pzena Investment Management LLC purchased a new position in SS&C Technologies in the 2nd quarter worth $684,819,000. Dimensional Fund Advisors LP raised its position in SS&C Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,115,616 shares of the technology company’s stock worth $210,508,000 after purchasing an additional 60,089 shares during the period. Jupiter Topco LLC bought a new stake in SS&C Technologies in the second quarter worth $178,337,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in SS&C Technologies by 5.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,123,578 shares of the technology company’s stock worth $163,664,000 after purchasing an additional 102,252 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Wall Street Analyst Weigh In

SSNC has been the subject of several analyst reports. DA Davidson upped their price target on shares of SS&C Technologies from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Evercore upgraded SS&C Technologies to an “outperform” rating in a report on Friday, October 23rd. Needham & Company LLC boosted their target price on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Weiss Ratings upgraded SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Finally, JPMorgan Chase & Co. dropped their target price on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average target price of $96.57.

SS&C Technologies Trading Down 1.6%

NASDAQ:SSNC opened at $78.31 on Friday. The company has a 50-day moving average price of $81.12 and a 200-day moving average price of $74.26. SS&C Technologies Holdings, Inc. has a 12 month low of $61.40 and a 12 month high of $89.93. 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 market cap of $18.38 billion, a price-to-earnings ratio of 22.50 and a beta of 1.04.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. SS&C Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 6.38 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was 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 presently 34.48%.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.