Zurcher Kantonalbank Zurich Cantonalbank Sells 13,426 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 17.3% in the second quarter, HoldingsChannel reports. The fund owned 64,080 shares of the technology company’s stock after selling 13,426 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SS&C Technologies were worth $3,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP purchased a new position in SS&C Technologies during the first quarter valued at approximately $1,163,000. World Asset Management Inc purchased a new position in shares of SS&C Technologies during the 2nd quarter valued at $229,000. Meeder Asset Management Inc. boosted its holdings in SS&C Technologies by 24.0% in the 1st quarter. Meeder Asset Management Inc. now owns 38,021 shares of the technology company’s stock worth $1,664,000 after buying an additional 7,352 shares during the period. Wells Fargo & Company MN increased its stake in SS&C Technologies by 2.6% in the 1st quarter. Wells Fargo & Company MN now owns 549,704 shares of the technology company’s stock worth $24,088,000 after buying an additional 13,873 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in SS&C Technologies by 143.5% during the first quarter. Invesco Ltd. now owns 347,248 shares of the technology company’s stock valued at $15,216,000 after acquiring an additional 204,650 shares during the period. 81.20% of the stock is owned by institutional investors.

NASDAQ SSNC opened at $57.50 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. SS&C Technologies Holdings, Inc. has a 52 week low of $29.51 and a 52 week high of $66.74. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 30.10 and a beta of 1.49. The company has a fifty day moving average of $56.68 and a two-hundred day moving average of $55.55.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.14. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SS&C Technologies had a net margin of 10.85% and a return on equity of 20.41%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.66 EPS for the current year.

Several analysts recently issued reports on SSNC shares. Raymond James lifted their target price on SS&C Technologies from $63.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of SS&C Technologies from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday. ValuEngine raised shares of SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reduced their price target on shares of SS&C Technologies from $61.00 to $59.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Finally, Morgan Stanley dropped their price objective on shares of SS&C Technologies from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. SS&C Technologies presently has a consensus rating of “Buy” and a consensus target price of $66.75.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

Further Reading: Understanding Specialty Certificates of Deposit

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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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