Wedge Capital Management L L P NC Buys Shares of 8,320 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Wedge Capital Management L L P NC bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNCGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 8,320 shares of the technology company’s stock, valued at approximately $483,000.

Several other large investors have also recently bought and sold shares of SSNC. HighTower Advisors LLC boosted its position in shares of SS&C Technologies by 5.4% during the 4th quarter. HighTower Advisors LLC now owns 15,284 shares of the technology company’s stock valued at $1,258,000 after purchasing an additional 778 shares in the last quarter. Covestor Ltd bought a new position in shares of SS&C Technologies during the 4th quarter valued at about $35,000. Private Advisor Group LLC bought a new position in shares of SS&C Technologies during the 4th quarter valued at about $247,000. Charles Schwab Investment Management Inc. boosted its position in shares of SS&C Technologies by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 712,747 shares of the technology company’s stock valued at $58,431,000 after purchasing an additional 19,311 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of SS&C Technologies by 3.6% during the 4th quarter. Eagle Asset Management Inc. now owns 18,843 shares of the technology company’s stock valued at $1,549,000 after purchasing an additional 655 shares in the last quarter. Institutional investors and hedge funds own 83.60% of the company’s stock.

SS&C Technologies Stock Performance

Shares of SSNC opened at $52.29 on Wednesday. SS&C Technologies Holdings, Inc. has a one year low of $51.77 and a one year high of $84.85. The company has a 50-day moving average of $58.67 and a two-hundred day moving average of $63.74. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 19.44 and a beta of 1.46. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 1.11.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, August 31st. SS&C Technologies’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SSNC shares. Citigroup reduced their price objective on shares of SS&C Technologies from $86.00 to $75.00 in a research report on Tuesday, July 26th. DA Davidson reduced their price objective on shares of SS&C Technologies from $92.00 to $82.00 in a research report on Thursday, July 28th. Piper Sandler reduced their price objective on shares of SS&C Technologies from $89.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. William Blair reiterated an “outperform” rating on shares of SS&C Technologies in a report on Monday, July 25th. Finally, Credit Suisse Group decreased their target price on shares of SS&C Technologies from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $79.50.

Insider Transactions at SS&C Technologies

In other news, COO Rahul Kanwar sold 46,700 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $63.06, for a total value of $2,944,902.00. Following the completion of the sale, the chief operating officer now directly owns 50,000 shares of the company’s stock, valued at $3,153,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by insiders.

SS&C Technologies Company Profile

(Get Rating)

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 include 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 comprising 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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