SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,044 shares of the technology company’s stock after selling 1,429 shares during the period. Maryland State Retirement & Pension System’s holdings in SS&C Technologies were worth $839,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. raised its holdings in SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after acquiring an additional 166 shares in the last quarter. Larson Financial Group LLC grew its holdings in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company’s stock worth $28,000 after acquiring an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of SS&C Technologies in the 1st quarter valued at $29,000. Finally, Colonial Trust Co SC raised its holdings in shares of SS&C Technologies by 239.3% in the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock valued at $42,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Stock Up 0.6%

SSNC opened at $86.08 on Wednesday. The stock has a market capitalization of $21.02 billion, a P/E ratio of 26.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. SS&C Technologies Holdings, Inc. has a one year low of $66.83 and a one year high of $89.73. The business’s 50-day simple moving average is $82.93 and its 200-day simple moving average is $81.71.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. SS&C Technologies’s dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. DA Davidson boosted their target price on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Needham & Company LLC lifted their price target on SS&C Technologies from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. UBS Group raised their target price on SS&C Technologies from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial upped their price target on SS&C Technologies from $90.00 to $95.00 and gave the company a “strong-buy” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and an average target price of $97.13.

About SS&C Technologies

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.