OLD National Bancorp IN Sells 4,525 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

OLD National Bancorp IN cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 43.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,827 shares of the technology company’s stock after selling 4,525 shares during the period. OLD National Bancorp IN’s holdings in SS&C Technologies were worth $356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC raised its holdings in SS&C Technologies by 1.1% in the 4th quarter. Verdence Capital Advisors LLC now owns 94,974 shares of the technology company’s stock valued at $5,804,000 after acquiring an additional 1,077 shares in the last quarter. abrdn plc raised its holdings in SS&C Technologies by 101.5% in the 4th quarter. abrdn plc now owns 75,043 shares of the technology company’s stock valued at $4,586,000 after acquiring an additional 37,805 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in SS&C Technologies by 26.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 52,989 shares of the technology company’s stock valued at $3,238,000 after acquiring an additional 11,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SS&C Technologies by 24.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,260 shares of the technology company’s stock valued at $4,171,000 after acquiring an additional 13,578 shares in the last quarter. Finally, Wealth Alliance acquired a new position in SS&C Technologies in the 4th quarter valued at $200,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Trading Up 0.9 %

NASDAQ SSNC opened at $61.54 on Thursday. The business’s 50-day moving average price is $62.91 and its two-hundred day moving average price is $59.05. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $65.86. The firm has a market capitalization of $15.21 billion, a PE ratio of 25.86 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, analysts expect that SS&C Technologies Holdings, Inc. will post 4.61 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.56%. SS&C Technologies’s dividend payout ratio (DPR) is presently 40.34%.

Analysts Set New Price Targets

SSNC has been the subject of several analyst reports. Citigroup lifted their price objective on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their price target on SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. UBS Group boosted their price target on SS&C Technologies from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. TheStreet raised SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Finally, StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.78.

About SS&C Technologies

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 comprising 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 consisting of claims adjudication, benefit management, care management, and business intelligence solutions.