SS&C Technologies Holdings, Inc. $SSNC Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in SS&C Technologies by 14.1%, selling 84,003 shares and now owning approximately 513,750 shares valued at $42.9 million.
• SS&C Technologies announced an increase in its quarterly dividend to $1.08 per share, reflecting an annualized dividend of $4.32 and a yield of 4.9%.
• Various research firms have raised their price targets for SS&C Technologies, with Needham & Company increasing it from $90 to $100 and UBS Group from $108 to $110, indicating a generally positive outlook on the stock.

Ameriprise Financial Inc. decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 14.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 513,750 shares of the technology company's stock after selling 84,003 shares during the period. Ameriprise Financial Inc. owned about 0.21% of SS&C Technologies worth $42,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. lifted its stake in SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after purchasing an additional 166 shares in the last quarter. Larson Financial Group LLC lifted its stake in SS&C Technologies by 634.8% in the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after purchasing an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new stake in SS&C Technologies in the 1st quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in SS&C Technologies in the 1st quarter worth $29,000. Finally, Elequin Capital LP purchased a new stake in SS&C Technologies in the 1st quarter worth $30,000. Institutional investors own 96.95% of the company's stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC traded down $1.16 during trading hours on Tuesday, reaching $87.23. 425,036 shares of the company's stock were exchanged, compared to its average volume of 1,365,820. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 27.36 and a beta of 1.24. The company has a 50-day moving average of $85.19 and a 200 day moving average of $82.15. The company has a quick ratio of 1.14, a current 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.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $1.27 EPS. The business's revenue was up 5.9% compared to the same quarter last year. SS&C Technologies has set its FY 2025 guidance at 5.820-6.060 EPS. Q3 2025 guidance at 1.440-1.500 EPS. Research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.08 per share. This is an increase from SS&C Technologies's previous quarterly dividend of $0.25. This represents a $4.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. SS&C Technologies's payout ratio is 31.35%.

Analyst Ratings Changes

A number of analysts recently weighed in on SSNC shares. Raymond James Financial increased their price objective on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. DA Davidson upped their target price on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Needham & Company LLC upped their target price on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on shares of SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Finally, UBS Group upped their target price on shares of SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.38.

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.