Comerica Bank Purchases 40,106 Shares of SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Comerica Bank increased its holdings in SS&C Technologies by 115.5%, acquiring an additional 40,106 shares, which brought the total to 74,836 shares valued at $6.25 million.
• SS&C Technologies reported a net margin of 13.34% and a year-over-year revenue increase of 5.9%, with an EPS of $1.45 that exceeded estimates.
• The company announced a dividend increase to $1.08 per share, resulting in a yield of 4.9%, payable on September 15th, representing a significant boost from its previous quarterly dividend.

Comerica Bank boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 115.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,836 shares of the technology company's stock after buying an additional 40,106 shares during the quarter. Comerica Bank's holdings in SS&C Technologies were worth $6,251,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. grew its position in SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC grew its position in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after purchasing an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new position in SS&C Technologies during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in SS&C Technologies during the 1st quarter worth approximately $29,000. Finally, Elequin Capital LP purchased a new position in SS&C Technologies during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Stock Down 1.2%

Shares of SSNC stock traded down $1.03 on Tuesday, hitting $87.36. The company's stock had a trading volume of 457,767 shares, compared to its average volume of 1,366,117. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $91.07. The firm's fifty day moving average price is $85.19 and its 200-day moving average price is $82.15. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 27.34 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $1.27 EPS. SS&C Technologies's quarterly revenue was up 5.9% compared to the same quarter last year. SS&C Technologies has set its FY 2025 guidance at 5.820-6.060 EPS. Q3 2025 guidance at 1.440-1.500 EPS. Research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from SS&C Technologies's previous quarterly dividend of $0.25. SS&C Technologies's dividend payout ratio (DPR) is presently 31.35%.

Analysts Set New Price Targets

SSNC has been the topic of several research analyst reports. UBS Group lifted their price objective on shares of SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. DA Davidson lifted their price objective on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Raymond James Financial lifted their target price on shares of SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley lifted their target price on shares of SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.38.

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.