Envestnet Asset Management Inc. Sells 90,729 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Posted by Defense World Staff on May 9th, 2023

Envestnet Asset Management Inc. lessened its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 321,387 shares of the technology company’s stock after selling 90,729 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of SS&C Technologies worth $16,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSNC. Pzena Investment Management LLC grew its holdings in SS&C Technologies by 18.2% during the fourth quarter. Pzena Investment Management LLC now owns 12,635,958 shares of the technology company’s stock valued at $657,828,000 after purchasing an additional 1,947,334 shares during the last quarter. BlackRock Inc. grew its holdings in SS&C Technologies by 7.8% during the third quarter. BlackRock Inc. now owns 25,067,431 shares of the technology company’s stock valued at $1,196,968,000 after purchasing an additional 1,809,055 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in SS&C Technologies by 29.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,503,268 shares of the technology company’s stock valued at $358,281,000 after purchasing an additional 1,687,932 shares during the last quarter. Capital World Investors acquired a new position in SS&C Technologies during the first quarter valued at approximately $103,226,000. Finally, Boston Partners grew its holdings in SS&C Technologies by 15.3% during the third quarter. Boston Partners now owns 7,695,276 shares of the technology company’s stock valued at $367,889,000 after purchasing an additional 1,023,361 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

SS&C Technologies Trading Up 0.8 %

NASDAQ SSNC opened at $55.79 on Tuesday. The business has a 50 day moving average price of $56.29 and a 200-day moving average price of $55.13. SS&C Technologies Holdings, Inc. has a 52 week low of $45.25 and a 52 week high of $65.92. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 23.94 and a beta of 1.42. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.13. SS&C Technologies had a return on equity of 17.74% and a net margin of 11.29%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. SS&C Technologies’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.33 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a $0.20 dividend. The ex-dividend date was Tuesday, February 28th. This represents a $0.80 annualized dividend and a yield of 1.43%. SS&C Technologies’s dividend payout ratio is currently 34.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SSNC shares. TheStreet upgraded shares of SS&C Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 23rd. StockNews.com assumed coverage on shares of SS&C Technologies in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Raymond James upped their target price on shares of SS&C Technologies from $63.00 to $74.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. initiated coverage on shares of SS&C Technologies in a research report on Wednesday, March 15th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, Needham & Company LLC upped their price target on SS&C Technologies from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $68.67.

SS&C Technologies Profile

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SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.