Allspring Global Investments Holdings LLC Makes New Investment in SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Allspring Global Investments Holdings LLC acquired a new stake in SS&C Technologies Holdings, purchasing 85,396 shares valued at approximately $7.1 million.
• SS&C Technologies recently increased its quarterly dividend to $1.08, reflecting a 5.4% dividend yield, an increase from the previous $0.25 dividend.
• Brokerages have upgraded SS&C Technologies' stock rating, with Wall Street Zen changing it from "hold" to "buy" and several others increasing their price targets, indicating growing confidence in the company's performance.

Allspring Global Investments Holdings LLC bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 85,396 shares of the technology company's stock, valued at approximately $7,115,000.

A number of other hedge funds have also made changes to their positions in SSNC. Larson Financial Group LLC grew its stake in SS&C Technologies by 634.8% during the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after buying an additional 292 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of SS&C Technologies in the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of SS&C Technologies in the 1st quarter worth approximately $29,000. Elequin Capital LP bought a new stake in SS&C Technologies during the 1st quarter worth approximately $30,000. Finally, SVB Wealth LLC bought a new position in SS&C Technologies in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 96.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SSNC. Wall Street Zen upgraded SS&C Technologies from a "hold" rating to a "buy" rating in a report on Sunday, October 12th. Raymond James Financial upped their price target on shares of SS&C Technologies from $95.00 to $101.00 and gave the stock a "strong-buy" rating in a research report on Friday. UBS Group increased their price objective on shares of SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SS&C Technologies in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their price target on shares of SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.13.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $79.68 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. SS&C Technologies Holdings, Inc. has a 1-year low of $66.83 and a 1-year high of $91.07. The stock has a market capitalization of $19.46 billion, a P/E ratio of 24.98 and a beta of 1.23. The business has a 50-day moving average price of $87.32 and a two-hundred day moving average price of $82.66.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.52 billion. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. SS&C Technologies's revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. Equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $1.08 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $4.32 annualized dividend and a dividend yield of 5.4%. This is an increase from SS&C Technologies's previous quarterly dividend of $0.25. SS&C Technologies's dividend payout ratio is 33.86%.

SS&C Technologies Company Profile

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.

Want to see what other hedge funds are holding SSNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.