Raymond James Financial Services Advisors Inc. Has $655,000 Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James Financial Services Advisors Inc. cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 31.2% during the fourth quarter, Holdings Channel reports. The firm owned 10,726 shares of the technology company’s stock after selling 4,874 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SS&C Technologies were worth $655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headinvest LLC purchased a new position in shares of SS&C Technologies during the third quarter valued at $26,000. KB Financial Partners LLC purchased a new position in shares of SS&C Technologies during the first quarter valued at $26,000. IFP Advisors Inc grew its holdings in shares of SS&C Technologies by 136.1% during the second quarter. IFP Advisors Inc now owns 477 shares of the technology company’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of SS&C Technologies by 364.3% during the first quarter. Harbour Investments Inc. now owns 520 shares of the technology company’s stock valued at $29,000 after buying an additional 408 shares in the last quarter. Finally, Natixis purchased a new position in shares of SS&C Technologies during the fourth quarter valued at $33,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

SSNC opened at $60.24 on Thursday. The company has a market cap of $14.89 billion, a PE ratio of 25.31 and a beta of 1.43. The stock has a 50-day moving average of $62.89 and a 200-day moving average of $58.75. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $65.86. 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 released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.13. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.61 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 Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.59%. SS&C Technologies’s dividend payout ratio is presently 40.34%.

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of research analyst reports. DA Davidson reiterated a “buy” rating and set a $78.00 price target on shares of SS&C Technologies in a report on Tuesday. Royal Bank of Canada boosted their target price on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Truist Financial boosted their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. TheStreet upgraded SS&C Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 23rd. Finally, Citigroup boosted their target price on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.78.

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.