Concentric Capital Strategies LP Buys Shares of 117,590 SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Concentric Capital Strategies LP purchased 117,590 shares of SS&C Technologies Holdings, Inc., valued at approximately $9.8 million, making it the 18th biggest position in their investment portfolio.
• Several other institutional investors increased their stakes in SS&C Technologies, with 96.95% of the stock now owned by hedge funds and institutional investors.
• Analysts have raised their price targets for SS&C Technologies, with a consensus rating of "Moderate Buy" and an average target price of approximately $97.38.

Concentric Capital Strategies LP purchased a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 117,590 shares of the technology company's stock, valued at approximately $9,822,000. SS&C Technologies accounts for about 0.9% of Concentric Capital Strategies LP's holdings, making the stock its 18th largest position.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in SS&C Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 20,401,466 shares of the technology company's stock valued at $1,704,134,000 after buying an additional 186,440 shares during the period. Janus Henderson Group PLC raised its position in SS&C Technologies by 3.4% during the fourth quarter. Janus Henderson Group PLC now owns 16,598,958 shares of the technology company's stock valued at $1,257,869,000 after buying an additional 539,483 shares during the period. Burgundy Asset Management Ltd. raised its position in SS&C Technologies by 3.6% during the first quarter. Burgundy Asset Management Ltd. now owns 5,186,307 shares of the technology company's stock valued at $433,212,000 after buying an additional 182,200 shares during the period. AQR Capital Management LLC raised its position in SS&C Technologies by 28.7% during the first quarter. AQR Capital Management LLC now owns 2,921,882 shares of the technology company's stock valued at $238,338,000 after buying an additional 651,650 shares during the period. Finally, Bank of America Corp DE raised its position in SS&C Technologies by 64.9% during the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock valued at $169,379,000 after buying an additional 880,058 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSNC has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Needham & Company LLC upped their target price on SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen lowered SS&C Technologies from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, DA Davidson upped their target price on SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.38.

SS&C Technologies Stock Down 0.3%

Shares of NASDAQ SSNC traded down $0.24 during mid-day trading on Tuesday, reaching $88.63. 321,018 shares of the company traded hands, compared to its average volume of 1,352,536. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $21.65 billion, a PE ratio of 27.78 and a beta of 1.24. The company's fifty day moving average is $85.86 and its two-hundred day moving average is $82.13. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $91.07.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The business 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 for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 EPS. SS&C Technologies has set its FY 2025 guidance at 5.820-6.060 EPS. Q3 2025 guidance at 1.440-1.500 EPS. On average, analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.25. SS&C Technologies's payout ratio is currently 33.86%.

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.