IFP Advisors Inc Grows Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

IFP Advisors Inc raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,412 shares of the technology company’s stock after acquiring an additional 213 shares during the quarter. IFP Advisors Inc’s holdings in SS&C Technologies were worth $183,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SSNC. International Assets Investment Management LLC raised its holdings in shares of SS&C Technologies by 7,320.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,226 shares of the technology company’s stock valued at $165,000 after buying an additional 2,196 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SS&C Technologies by 95.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,353 shares of the technology company’s stock valued at $917,000 after buying an additional 6,027 shares in the last quarter. abrdn plc raised its holdings in shares of SS&C Technologies by 39.0% during the 3rd quarter. abrdn plc now owns 43,183 shares of the technology company’s stock valued at $3,205,000 after buying an additional 12,119 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of SS&C Technologies during the 3rd quarter valued at about $202,000. Finally, US Bancorp DE grew its position in SS&C Technologies by 1.9% during the 3rd quarter. US Bancorp DE now owns 17,160 shares of the technology company’s stock worth $1,273,000 after acquiring an additional 318 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SSNC. Raymond James raised their price target on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 7th. Royal Bank of Canada raised their price target on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC raised their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $97.50.

Insider Activity

In other news, SVP Jason Douglas White sold 71,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This trade represents a 91.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. The trade was a 49.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,000 shares of company stock worth $37,492,778 in the last quarter. 15.40% of the stock is owned by company insiders.

SS&C Technologies Price Performance

Shares of SSNC stock opened at $88.22 on Tuesday. The firm has a market cap of $21.85 billion, a P/E ratio of 29.41 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The business’s 50 day moving average price is $81.37 and its 200-day moving average price is $76.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, March 3rd. SS&C Technologies’s payout ratio is presently 33.33%.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.