US Bancorp DE Cuts Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

US Bancorp DE decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCGet Rating) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,557 shares of the technology company’s stock after selling 2,043 shares during the quarter. US Bancorp DE’s holdings in SS&C Technologies were worth $1,650,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of SS&C Technologies by 25.1% during the second quarter. Van ECK Associates Corp now owns 3,940 shares of the technology company’s stock valued at $229,000 after purchasing an additional 791 shares during the period. American Trust raised its stake in shares of SS&C Technologies by 26.3% during the first quarter. American Trust now owns 3,499 shares of the technology company’s stock valued at $262,000 after purchasing an additional 728 shares during the period. Xponance Inc. purchased a new stake in shares of SS&C Technologies during the second quarter valued at approximately $247,000. Amundi raised its stake in shares of SS&C Technologies by 0.5% during the second quarter. Amundi now owns 597,236 shares of the technology company’s stock valued at $34,621,000 after purchasing an additional 3,006 shares during the period. Finally, Natixis Advisors L.P. raised its stake in shares of SS&C Technologies by 26.2% during the second quarter. Natixis Advisors L.P. now owns 261,299 shares of the technology company’s stock valued at $15,173,000 after purchasing an additional 54,321 shares during the period. Hedge funds and other institutional investors own 83.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SSNC shares. DA Davidson dropped their price objective on shares of SS&C Technologies to $70.00 in a research note on Tuesday, November 1st. Needham & Company LLC dropped their price objective on shares of SS&C Technologies from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. StockNews.com assumed coverage on shares of SS&C Technologies in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Royal Bank of Canada decreased their price target on shares of SS&C Technologies from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, Raymond James decreased their price target on shares of SS&C Technologies from $83.00 to $63.00 and set a “strong-buy” rating for the company in a research report on Friday, October 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $64.73.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $55.67 on Tuesday. The company has a market cap of $14.02 billion, a PE ratio of 21.33 and a beta of 1.42. The company has a fifty day moving average price of $52.24 and a two-hundred day moving average price of $54.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.13 and a quick ratio of 1.13. SS&C Technologies Holdings, Inc. has a 12 month low of $45.25 and a 12 month high of $83.59.

SS&C Technologies (NASDAQ:SSNCGet Rating) last released its quarterly earnings data on Thursday, October 27th. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. SS&C Technologies had a net margin of 13.24% and a return on equity of 19.05%. Research analysts expect that SS&C Technologies Holdings, Inc. will post 4.25 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, November 30th. SS&C Technologies’s dividend payout ratio (DPR) is 30.65%.

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.

See Also

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

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