Van ECK Associates Corp Raises Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Van ECK Associates Corp increased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 16.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 56,017 shares of the technology company’s stock after purchasing an additional 7,875 shares during the period. Van ECK Associates Corp’s holdings in SS&C Technologies were worth $3,423,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Carret Asset Management LLC grew its position in SS&C Technologies by 2.5% during the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock worth $432,000 after purchasing an additional 175 shares during the period. SkyView Investment Advisors LLC raised its position in shares of SS&C Technologies by 4.0% in the third quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company’s stock valued at $261,000 after buying an additional 192 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of SS&C Technologies by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 9,240 shares of the technology company’s stock worth $565,000 after purchasing an additional 194 shares during the last quarter. Arizona State Retirement System boosted its stake in SS&C Technologies by 0.3% during the fourth quarter. Arizona State Retirement System now owns 61,366 shares of the technology company’s stock worth $3,750,000 after buying an additional 196 shares during the last quarter. Finally, Argent Trust Co boosted its position in shares of SS&C Technologies by 1.4% during the 3rd quarter. Argent Trust Co now owns 19,040 shares of the technology company’s stock valued at $1,000,000 after acquiring an additional 256 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Up 1.6 %

SSNC stock opened at $62.78 on Tuesday. The stock has a market capitalization of $15.53 billion, a P/E ratio of 25.01 and a beta of 1.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $65.86. The company has a 50 day moving average price of $62.50 and a two-hundred day moving average price of $59.68.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.13. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. As a group, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SSNC shares. TheStreet upgraded shares of SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup upped their price target on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, January 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

SS&C Technologies Company 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.