California Public Employees Retirement System Cuts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

California Public Employees Retirement System trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,304,176 shares of the technology company’s stock after selling 2,740 shares during the period. California Public Employees Retirement System’s holdings in SS&C Technologies were worth $79,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of SS&C Technologies by 127.0% during the fourth quarter. Nordea Investment Management AB now owns 242,712 shares of the technology company’s stock worth $14,839,000 after purchasing an additional 135,775 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of SS&C Technologies by 22.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock valued at $6,368,000 after buying an additional 19,374 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of SS&C Technologies in the fourth quarter valued at about $2,388,000. Mackenzie Financial Corp grew its stake in shares of SS&C Technologies by 18.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,017,953 shares of the technology company’s stock valued at $62,207,000 after buying an additional 161,165 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of SS&C Technologies by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock valued at $71,063,000 after buying an additional 68,359 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC increased their target price on SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada increased their target price on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. DA Davidson reiterated a “buy” rating and issued a $78.00 target price on shares of SS&C Technologies in a research note on Tuesday, April 16th. UBS Group increased their price target on SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Citigroup increased their price target on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.78.

SS&C Technologies Trading Up 0.9 %

NASDAQ:SSNC opened at $61.54 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $62.91 and its two-hundred day moving average is $59.05. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $65.86. The company has a market cap of $15.21 billion, a PE ratio of 25.86 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, analysts predict 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. Investors of record on Friday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is 40.34%.

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.