LPL Financial LLC Raises Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

LPL Financial LLC lifted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,186 shares of the technology company’s stock after acquiring an additional 4,642 shares during the quarter. LPL Financial LLC’s holdings in SS&C Technologies were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. grew its holdings in SS&C Technologies by 1.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,609,305 shares of the technology company’s stock valued at $396,140,000 after purchasing an additional 106,037 shares during the period. FourThought Financial Partners LLC bought a new position in SS&C Technologies during the fourth quarter valued at $1,560,000. Handelsbanken Fonder AB grew its holdings in SS&C Technologies by 1.5% during the fourth quarter. Handelsbanken Fonder AB now owns 183,542 shares of the technology company’s stock valued at $9,555,000 after purchasing an additional 2,758 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in SS&C Technologies by 11.5% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 76,008 shares of the technology company’s stock valued at $3,987,000 after purchasing an additional 7,848 shares during the period. Finally, Marks Group Wealth Management Inc grew its holdings in SS&C Technologies by 2.0% during the fourth quarter. Marks Group Wealth Management Inc now owns 101,999 shares of the technology company’s stock valued at $5,310,000 after purchasing an additional 2,007 shares during the period. 83.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Credit Suisse Group increased their price objective on SS&C Technologies from $78.00 to $83.00 in a report on Friday, April 28th. StockNews.com began coverage on SS&C Technologies in a report on Thursday, May 18th. They issued a “buy” rating for the company. Raymond James raised their price target on SS&C Technologies from $63.00 to $74.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 8th. DA Davidson raised their price target on SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of SS&C Technologies in a report on Thursday, March 9th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies presently has an average rating of “Buy” and an average target price of $68.67.

SS&C Technologies Stock Up 0.2 %

SSNC opened at $56.22 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $55.82 and its 200-day moving average price is $55.58. SS&C Technologies Holdings, Inc. has a 12 month low of $45.25 and a 12 month high of $65.92. The company has a market cap of $14.01 billion, a P/E ratio of 24.13 and a beta of 1.42.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. SS&C Technologies’s dividend payout ratio is presently 34.33%.

About SS&C Technologies

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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.