Board of the Pension Protection Fund trimmed its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 86.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,400 shares of the technology company’s stock after selling 14,700 shares during the period. Board of the Pension Protection Fund’s holdings in SS&C Technologies were worth $213,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SSNC. Caldwell Trust Co acquired a new position in SS&C Technologies in the second quarter valued at $27,000. SVB Wealth LLC acquired a new stake in shares of SS&C Technologies during the first quarter worth about $33,000. 1248 Management LLC purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at about $34,000. Osterweis Capital Management Inc. acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at about $40,000. Finally, Salem Investment Counselors Inc. boosted its position in shares of SS&C Technologies by 71.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 625 shares of the technology company’s stock valued at $55,000 after purchasing an additional 261 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.
SS&C Technologies Price Performance
SS&C Technologies stock opened at $87.75 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $84.58 and a 200-day simple moving average of $85.08. SS&C Technologies Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $91.07. The stock has a market capitalization of $21.41 billion, a PE ratio of 26.04 and a beta of 1.20.
SS&C Technologies Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, December 1st. SS&C Technologies’s payout ratio is 32.05%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on SSNC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SS&C Technologies in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Wall Street Zen upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. UBS Group increased their price target on shares of SS&C Technologies from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, DA Davidson set a $102.00 price objective on shares of SS&C Technologies in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SS&C Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $101.75.
View Our Latest Analysis on SSNC
Insider Transactions at SS&C Technologies
In related news, Director Normand A. Boulanger sold 150,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $85.85, for a total transaction of $12,877,500.00. Following the completion of the transaction, the director directly owned 386,924 shares of the company’s stock, valued at $33,217,425.40. This represents a 27.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 16.40% of the stock is owned by corporate insiders.
About SS&C Technologies
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
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