Bank of Nova Scotia Purchases Shares of 107,744 SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Bank of Nova Scotia acquired 107,744 shares of SS&C Technologies in the second quarter, valued at approximately $6.7 million. Institutional investors collectively own 96.9% of the company’s stock.
• SS&C Technologies reported quarterly EPS of $1.76, exceeding estimates of $1.68, while revenue rose 10.3% year over year to $1.70 billion. Analysts maintain a “Moderate Buy” consensus rating with a $91.25 average price target.
• The company increased its quarterly dividend from $0.27 to $0.30 per share, equivalent to a $1.20 annualized payout and a 1.4% yield.

Bank of Nova Scotia acquired a new stake in shares of 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. The institutional investor acquired 107,744 shares of the technology company's stock, valued at approximately $6,686,000.

Other large investors have also modified their holdings of the company. Millennium Management LLC raised its holdings in shares of SS&C Technologies by 349.1% during the first quarter. Millennium Management LLC now owns 176,630 shares of the technology company's stock valued at $14,754,000 after acquiring an additional 137,301 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of SS&C Technologies by 6,069.0% in the first quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company's stock valued at $216,000 after purchasing an additional 2,549 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of SS&C Technologies by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 690,340 shares of the technology company's stock worth $57,664,000 after buying an additional 97,247 shares during the period. Focus Partners Wealth grew its holdings in shares of SS&C Technologies by 35.1% during the first quarter. Focus Partners Wealth now owns 9,362 shares of the technology company's stock valued at $782,000 after buying an additional 2,431 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of SS&C Technologies by 17.9% during the second quarter. Invesco Ltd. now owns 569,693 shares of the technology company's stock valued at $47,171,000 after buying an additional 86,606 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SSNC. 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 report on Monday, July 20th. Royal Bank Of Canada increased their price target on shares of SS&C Technologies from $89.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of SS&C Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. DA Davidson reaffirmed a "buy" rating and set a $96.00 price objective on shares of SS&C Technologies in a research report on Monday, July 27th. Finally, UBS Group reiterated a "buy" rating and issued a $99.00 price objective on shares of SS&C Technologies in a research note on Thursday, August 13th. One equities research 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's stock. Based on data from MarketBeat, SS&C Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.25.

SS&C Technologies Price Performance

Shares of SSNC opened at $82.99 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $19.47 billion, a PE ratio of 23.85 and a beta of 1.07. The firm's 50 day moving average price is $72.44 and its 200 day moving average price is $70.85. SS&C Technologies Holdings, Inc. has a twelve month low of $61.40 and a twelve month high of $90.26.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The technology company reported $1.76 EPS for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The company's revenue for the quarter 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. As a group, research analysts expect that SS&C Technologies Holdings, Inc. will post 6.28 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.4%. This is an increase from SS&C Technologies's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. SS&C Technologies's dividend payout ratio is 34.48%.

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.

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