SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCFree Report) by 19.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,690 shares of the technology company’s stock after selling 3,389 shares during the period. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $837,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SSNC. Nomura Holdings Inc. boosted its holdings in shares of SS&C Technologies by 571.4% in the 3rd quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock valued at $21,518,000 after buying an additional 348,563 shares in the last quarter. BNP Paribas Financial Markets raised its position in SS&C Technologies by 375.6% in the 4th quarter. BNP Paribas Financial Markets now owns 417,176 shares of the technology company’s stock valued at $25,494,000 after purchasing an additional 329,458 shares during the last quarter. Sixth Street Partners Management Company L.P. purchased a new stake in SS&C Technologies in the 3rd quarter valued at $11,296,000. Dimensional Fund Advisors LP raised its position in SS&C Technologies by 9.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,310,330 shares of the technology company’s stock valued at $141,190,000 after purchasing an additional 199,780 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in SS&C Technologies by 1.4% in the 3rd quarter. Pzena Investment Management LLC now owns 14,229,448 shares of the technology company’s stock valued at $747,615,000 after purchasing an additional 197,934 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SSNC shares. Jefferies Financial Group upped their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Royal Bank of Canada upped their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Truist Financial upped their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup upped their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Check Out Our Latest Report on SSNC

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 5,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $63.14, for a total value of $315,700.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,399,320. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 25,000 shares of company stock valued at $1,574,300. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $62.05 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $65.86. The stock has a market cap of $15.35 billion, a PE ratio of 24.72 and a beta of 1.37. The firm’s fifty day simple moving average is $62.32 and its 200-day simple moving average is $61.19.

SS&C Technologies (NASDAQ:SSNCGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. SS&C Technologies’s payout ratio is 38.25%.

SS&C Technologies Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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