Principal Financial Group Inc. Sells 390 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Principal Financial Group Inc. cut its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCFree Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,079 shares of the technology company’s stock after selling 390 shares during the quarter. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $897,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SSNC. Price T Rowe Associates Inc. MD raised its position in SS&C Technologies by 482.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,727,873 shares of the technology company’s stock valued at $210,514,000 after purchasing an additional 3,088,224 shares during the last quarter. Norges Bank bought a new position in SS&C Technologies in the fourth quarter valued at about $124,570,000. Shapiro Capital Management LLC bought a new position in SS&C Technologies in the fourth quarter valued at about $118,298,000. Durable Capital Partners LP bought a new position in SS&C Technologies in the second quarter valued at about $121,640,000. Finally, Capital World Investors bought a new position in SS&C Technologies in the first quarter valued at about $103,226,000. 82.17% of the stock is currently owned by institutional investors.

SS&C Technologies Trading Up 0.9 %

NASDAQ SSNC opened at $60.97 on Friday. The business has a 50 day simple moving average of $60.16 and a 200 day simple moving average of $56.38. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $63.25. The stock has a market capitalization of $15.09 billion, a P/E ratio of 25.19 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.14 and a quick ratio of 1.14.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.96 annualized dividend and a yield of 1.57%. SS&C Technologies’s dividend payout ratio is currently 39.67%.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of analyst reports. UBS Group initiated coverage on SS&C Technologies in a research report on Tuesday, November 7th. They set a “buy” rating and a $72.00 price objective for the company. DA Davidson lowered their price objective on SS&C Technologies from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, October 27th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. Needham & Company LLC lowered their price objective on SS&C Technologies from $71.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, Morgan Stanley lowered their price objective on SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $67.75.

View Our Latest Analysis on SS&C Technologies

About SS&C Technologies

(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 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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