SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Holdings Cut by Pictet Asset Management SA

Pictet Asset Management SA decreased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCGet Rating) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,773 shares of the technology company’s stock after selling 416 shares during the quarter. Pictet Asset Management SA’s holdings in SS&C Technologies were worth $4,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSNC. Pzena Investment Management LLC lifted its position in SS&C Technologies by 83.4% in the 2nd quarter. Pzena Investment Management LLC now owns 8,916,391 shares of the technology company’s stock worth $517,775,000 after buying an additional 4,055,156 shares in the last quarter. Capital World Investors purchased a new stake in SS&C Technologies in the 1st quarter worth approximately $103,226,000. Diamond Hill Capital Management Inc. lifted its position in SS&C Technologies by 26.9% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,286,689 shares of the technology company’s stock worth $321,587,000 after buying an additional 908,732 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in SS&C Technologies by 7,122.8% in the 1st quarter. Mawer Investment Management Ltd. now owns 905,740 shares of the technology company’s stock worth $67,949,000 after buying an additional 893,200 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in SS&C Technologies by 11,270.9% in the 2nd quarter. Lazard Asset Management LLC now owns 894,549 shares of the technology company’s stock worth $51,945,000 after buying an additional 886,682 shares in the last quarter. Hedge funds and other institutional investors own 83.60% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $52.22 on Friday. The firm’s 50-day moving average is $50.30 and its 200-day moving average is $56.63. SS&C Technologies Holdings, Inc. has a 52-week low of $45.25 and a 52-week high of $84.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 20.01 and a beta of 1.45.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. SS&C Technologies’s payout ratio is 30.65%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Credit Suisse Group cut their price target on shares of SS&C Technologies from $78.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Raymond James cut their price target on shares of SS&C Technologies from $83.00 to $63.00 and set a “strong-buy” rating on the stock in a report on Friday, October 28th. Royal Bank of Canada cut their price target on shares of SS&C Technologies from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. StockNews.com assumed coverage on shares of SS&C Technologies in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Needham & Company LLC cut their price target on shares of SS&C Technologies from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, October 28th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.36.

SS&C Technologies Profile

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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.

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

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