Allworth Financial LP Cuts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Allworth Financial LP lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 18.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 868 shares of the technology company’s stock after selling 192 shares during the period. Allworth Financial LP’s holdings in SS&C Technologies were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headinvest LLC purchased a new stake in shares of SS&C Technologies in the 3rd quarter worth approximately $26,000. KB Financial Partners LLC bought a new position in SS&C Technologies in the 1st quarter valued at approximately $26,000. IFP Advisors Inc lifted its position in SS&C Technologies by 136.1% in the 2nd quarter. IFP Advisors Inc now owns 477 shares of the technology company’s stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Harbour Investments Inc. lifted its position in SS&C Technologies by 364.3% in the 1st quarter. Harbour Investments Inc. now owns 520 shares of the technology company’s stock valued at $29,000 after acquiring an additional 408 shares in the last quarter. Finally, Natixis bought a new position in SS&C Technologies in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

SSNC has been the topic of several analyst reports. Truist Financial upped their price objective on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Needham & Company LLC upped their price objective on SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. Royal Bank of Canada increased their price target on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Citigroup increased their price target on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.44.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $62.01 on Friday. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $65.86. The stock’s fifty day moving average is $62.92 and its 200 day moving average is $58.59. The stock has a market cap of $15.32 billion, a P/E ratio of 26.05 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.61 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued 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 yield of 1.55%. SS&C Technologies’s dividend payout ratio is currently 40.34%.

SS&C Technologies Profile

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.