Bank of America Corp DE Takes $40.43 Million Position in SS&C Technologies Holdings, Inc. $SSNC

Bank of America Corp DE bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 651,643 shares of the technology company's stock, valued at approximately $40,434,000. Bank of America Corp DE owned about 0.28% of SS&C Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Skylands Capital LLC boosted its stake in SS&C Technologies by 71.6% in the first quarter. Skylands Capital LLC now owns 138,475 shares of the technology company's stock valued at $9,357,000 after acquiring an additional 57,775 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of SS&C Technologies during the 2nd quarter valued at $1,380,000. Fisher Asset Management LLC lifted its stake in shares of SS&C Technologies by 39.7% in the 4th quarter. Fisher Asset Management LLC now owns 158,724 shares of the technology company's stock valued at $13,876,000 after purchasing an additional 45,094 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at $15,709,000. Finally, OP Asset Management Ltd bought a new position in shares of SS&C Technologies in the 1st quarter worth $1,569,000. 96.90% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Up 0.6%

SSNC stock opened at $80.40 on Tuesday. 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 stock has a market capitalization of $18.87 billion, a P/E ratio of 23.10 and a beta of 1.09. The business has a 50-day moving average of $78.68 and a 200-day moving average of $71.97. SS&C Technologies Holdings, Inc. has a fifty-two week low of $61.40 and a fifty-two week high of $90.22.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.08. SS&C Technologies had a net margin of 13.16% and a return on equity of 21.20%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $1.45 EPS. The company's revenue was up 10.3% compared to the same quarter last year. 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 6.26 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared 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 represents a $1.20 annualized dividend and a yield of 1.5%. This is an increase from SS&C Technologies's previous quarterly dividend of $0.27. SS&C Technologies's payout ratio is currently 34.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. DA Davidson reissued a "buy" rating and set a $96.00 price target on shares of SS&C Technologies in a research report on Monday, July 27th. BWS Financial reaffirmed a "buy" rating on shares of SS&C Technologies in a research note on Wednesday, September 9th. UBS Group reiterated a "buy" rating and set a $101.00 target price on shares of SS&C Technologies in a report on Wednesday, September 9th. Royal Bank Of Canada boosted their target price on SS&C Technologies from $92.00 to $101.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. lowered their price target on SS&C Technologies from $94.00 to $87.00 and set a "neutral" rating for the company in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.62.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc NASDAQ: SSNC provides software and software-enabled services to the financial services and healthcare industries. Its platforms are designed to support investment management, fund administration, portfolio accounting, trading, risk management, financial reporting, and regulatory compliance.

The company serves asset managers, hedge funds, private equity firms, wealth managers, banks, insurance companies, corporations, and healthcare organizations. Its offerings include products for alternative investment and fund administration, wealth and asset management, institutional investment management, loan and portfolio servicing, and healthcare claims and payment processing.

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