Bank of America Corp DE Cuts Stock Position in SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Bank of America cut its SS&C Technologies position by 44.1% in the first quarter, selling 1.32 million shares and retaining 1.67 million shares worth approximately $112.9 million. Institutional investors and hedge funds still own 96.9% of the company.
• SS&C Technologies exceeded quarterly expectations, reporting $1.76 in adjusted EPS on $1.70 billion in revenue, with revenue up 10.3% year over year. The company issued fiscal 2026 EPS guidance of $6.93 to $7.25.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $93.25, compared with the stock’s reported price of $79.23. SS&C also pays a quarterly dividend of $0.27 per share, representing a 1.4% yield.

Bank of America Corp DE decreased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 44.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,671,190 shares of the technology company's stock after selling 1,319,524 shares during the period. Bank of America Corp DE owned about 0.69% of SS&C Technologies worth $112,922,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in SS&C Technologies by 374.3% during the 4th quarter. Teacher Retirement System of Texas now owns 137,799 shares of the technology company's stock worth $12,046,000 after buying an additional 108,746 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SS&C Technologies by 8.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 217,237 shares of the technology company's stock valued at $18,628,000 after buying an additional 16,278 shares during the period. Kepler Cheuvreux Suisse SA grew its stake in shares of SS&C Technologies by 29.4% in the fourth quarter. Kepler Cheuvreux Suisse SA now owns 121,773 shares of the technology company's stock worth $10,645,000 after acquiring an additional 27,686 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of SS&C Technologies by 122.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 41,976 shares of the technology company's stock worth $3,670,000 after acquiring an additional 23,125 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its position in shares of SS&C Technologies by 8.0% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 295,413 shares of the technology company's stock worth $25,341,000 after acquiring an additional 21,950 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $79.23 on Friday. SS&C Technologies Holdings, Inc. has a 12 month low of $61.40 and a 12 month high of $91.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $18.59 billion, a PE ratio of 22.77 and a beta of 1.07. The business's fifty day moving average price is $69.30 and its 200 day moving average price is $71.04.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.08. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.66 billion. SS&C Technologies had a return on equity of 21.20% and a net margin of 13.16%.The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 earnings per share. SS&C Technologies has set its FY 2026 guidance at 6.930-7.250 EPS and its Q3 2026 guidance at 1.730-1.790 EPS. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 6.28 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, June 1st. SS&C Technologies's payout ratio is currently 31.03%.

Insider Buying and Selling at SS&C Technologies

In other news, Director Jonathan E. Michael sold 2,740 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $66.86, for a total value of $183,196.40. Following the completion of the sale, the director directly owned 79,384 shares of the company's stock, valued at approximately $5,307,614.24. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 3,000 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $66.68, for a total value of $200,040.00. Following the completion of the sale, the director directly owned 18,404 shares of the company's stock, valued at approximately $1,227,178.72. This trade represents a 14.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,740 shares of company stock valued at $583,576. Company insiders own 16.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SSNC. Morgan Stanley decreased their target price on SS&C Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a report on Friday, April 24th. UBS Group upped their price target on SS&C Technologies from $112.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Jefferies Financial Group reduced their price target on SS&C Technologies from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. JPMorgan Chase & Co. decreased their price objective on SS&C Technologies from $94.00 to $87.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price objective on SS&C Technologies from $89.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.25.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company's offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source