Citigroup Inc. Purchases 104,779 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Citigroup Inc. lifted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 59.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,931 shares of the technology company's stock after buying an additional 104,779 shares during the quarter. Citigroup Inc. owned about 0.11% of SS&C Technologies worth $23,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SSNC. Kestra Private Wealth Services LLC grew its stake in shares of SS&C Technologies by 29.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock worth $1,341,000 after purchasing an additional 3,698 shares during the period. Unigestion Holding SA lifted its holdings in shares of SS&C Technologies by 861.7% during the 1st quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock worth $7,964,000 after acquiring an additional 85,427 shares during the period. Ritholtz Wealth Management acquired a new stake in SS&C Technologies during the 1st quarter worth approximately $509,000. Bank of New York Mellon Corp increased its position in SS&C Technologies by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock worth $99,486,000 after purchasing an additional 75,807 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in SS&C Technologies by 403.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock worth $6,337,000 after purchasing an additional 60,784 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Analyst Ratings Changes

SSNC has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Needham & Company LLC raised their price objective on SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group raised their target price on SS&C Technologies from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley boosted their price target on shares of SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, DA Davidson raised their price objective on SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $97.13.

SS&C Technologies Stock Performance

NASDAQ SSNC traded down $1.02 during trading on Friday, hitting $86.83. The company's stock had a trading volume of 1,222,305 shares, compared to its average volume of 1,381,221. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $83.25 and a 200 day moving average price of $81.80. The firm has a market cap of $21.21 billion, a P/E ratio of 27.22 and a beta of 1.25. SS&C Technologies Holdings, Inc. has a 52 week low of $66.83 and a 52 week high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. Equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's payout ratio is currently 31.35%.

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.