AQR Capital Management LLC Acquires 651,650 Shares of SS&C Technologies Holdings, Inc. $SSNC

Key Points

• AQR Capital Management LLC increased its stake in SS&C Technologies by 28.7%, owning approximately 2.92 million shares valued at $238.34 million after their recent purchase.
• Analysts have set a new average price target for SS&C Technologies at $97.38, with recent ratings including one "Strong Buy" and multiple "Buy" ratings.
• The company recently announced a quarterly dividend of $1.08, significantly increased from the previous quarterly dividend of $0.25, representing an annualized yield of 4.9%.

AQR Capital Management LLC increased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,921,882 shares of the technology company's stock after acquiring an additional 651,650 shares during the period. AQR Capital Management LLC owned about 1.18% of SS&C Technologies worth $238,338,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of SS&C Technologies by 64.9% in the 4th 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. Wedge Capital Management L L P NC increased its stake in shares of SS&C Technologies by 1,135.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 707,105 shares of the technology company's stock valued at $59,064,000 after buying an additional 649,864 shares during the period. Janus Henderson Group PLC increased its stake in shares of SS&C Technologies by 3.4% in the 4th 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. Royal Bank of Canada increased its stake in shares of SS&C Technologies by 173.2% in the 4th quarter. Royal Bank of Canada now owns 680,915 shares of the technology company's stock valued at $51,600,000 after buying an additional 431,643 shares during the period. Finally, Commerce Bank increased its stake in shares of SS&C Technologies by 12,105.9% in the 1st quarter. Commerce Bank now owns 434,775 shares of the technology company's stock valued at $36,317,000 after buying an additional 431,213 shares during the period. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SSNC shares. JPMorgan Chase & Co. lifted their target price on SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Needham & Company LLC raised their price target 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 lifted their target price on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. UBS Group lifted their target price on SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Finally, Wall Street Zen lowered SS&C Technologies from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.38.

SS&C Technologies Stock Up 0.4%

SSNC traded up $0.32 on Monday, hitting $89.12. 311,644 shares of the company were exchanged, compared to its average volume of 1,354,740. SS&C Technologies Holdings, Inc. has a 12 month low of $66.83 and a 12 month high of $91.07. The company has a market cap of $21.76 billion, a PE ratio of 27.93 and a beta of 1.24. 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's fifty day moving average is $85.74 and its 200-day moving average is $82.13.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.SS&C Technologies's revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 earnings per share. 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 research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.25. This represents a $4.32 annualized dividend and a dividend yield of 4.8%. SS&C Technologies's dividend payout ratio (DPR) 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.