abrdn plc Increases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

abrdn plc increased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 101.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,043 shares of the technology company’s stock after buying an additional 37,805 shares during the period. abrdn plc’s holdings in SS&C Technologies were worth $4,586,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SSNC. Headinvest LLC purchased a new stake in SS&C Technologies during the third quarter worth $26,000. Operose Advisors LLC purchased a new position in SS&C Technologies during the third quarter valued at $34,000. Cary Street Partners Investment Advisory LLC purchased a new position in SS&C Technologies during the third quarter valued at $53,000. Fortis Group Advisors LLC purchased a new position in SS&C Technologies during the third quarter valued at $53,000. Finally, Allworth Financial LP lifted its holdings in SS&C Technologies by 126.0% during the third quarter. Allworth Financial LP now owns 1,060 shares of the technology company’s stock valued at $56,000 after purchasing an additional 591 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SSNC shares. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, January 29th. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Finally, UBS Group increased their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.22.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $61.24 on Friday. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $65.86. The stock has a market cap of $15.14 billion, a P/E ratio of 24.40 and a beta of 1.43. The company has a 50-day moving average price of $62.78 and a 200 day moving average price of $59.15. 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 data on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.61 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s payout ratio is currently 38.25%.

SS&C Technologies Company Profile

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.