53,950 SS&C Technologies Holdings, Inc. $SSNC Shares Sold by Parcion Private Wealth LLC

Key Points

• Parcion Private Wealth LLC cut its SS&C Technologies position by 78%, selling 53,950 shares and retaining 15,222 shares worth approximately $1.17 million.
• Institutional ownership remains high at 96.9%, with major investors including BlackRock, Pzena Investment Management, Swedbank and Dimensional Fund Advisors holding or acquiring significant stakes.
• SS&C reported quarterly EPS of $1.78, slightly exceeding estimates, while revenue rose 7.7% year over year. The company also increased its quarterly dividend to $0.30 per share, and analysts maintain a consensus “Moderate Buy” rating with a $96.57 target price.

Parcion Private Wealth LLC lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 78.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,222 shares of the technology company's stock after selling 53,950 shares during the period. Parcion Private Wealth LLC's holdings in SS&C Technologies were worth $1,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SSNC. BlackRock Inc. purchased a new position in SS&C Technologies during the 2nd quarter worth approximately $1,043,987,000. Pzena Investment Management LLC purchased a new stake in shares of SS&C Technologies in the 2nd quarter valued at $684,819,000. Swedbank AB boosted its holdings in shares of SS&C Technologies by 15.0% in the 1st quarter. Swedbank AB now owns 4,307,795 shares of the technology company's stock valued at $291,078,000 after acquiring an additional 563,196 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SS&C Technologies by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,115,616 shares of the technology company's stock worth $210,508,000 after acquiring an additional 60,089 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of SS&C Technologies in the second quarter worth $178,337,000. Institutional investors and hedge funds own 96.90% of the company's stock.

SS&C Technologies Trading Down 0.3%

Shares of NASDAQ:SSNC opened at $80.39 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. SS&C Technologies Holdings, Inc. has a 12-month low of $61.40 and a 12-month high of $89.93. The business has a 50 day moving average of $81.37 and a two-hundred day moving average of $74.37. The company has a market capitalization of $18.86 billion, a PE ratio of 23.10 and a beta of 1.09.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.01. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.69 billion. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.57 EPS. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 6.30 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. SS&C Technologies's dividend payout ratio is presently 34.48%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SSNC. JPMorgan Chase & Co. reduced their target price on shares of SS&C Technologies from $94.00 to $87.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Weiss Ratings raised shares of SS&C Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 25th. Needham & Company LLC increased 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, October 23rd. BWS Financial reaffirmed a "buy" rating on shares of SS&C Technologies in a research report on Wednesday, September 9th. Finally, Evercore upgraded SS&C Technologies to an "outperform" rating in a research note on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.57.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.

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