Lakewood Capital Management LP Takes $63.10 Million Position in SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Lakewood Capital Management acquired 1,016,954 SS&C Technologies shares worth approximately $63.1 million, making the stock its 10th-largest holding and representing about 3.3% of its portfolio.
• Institutional ownership remains high at 96.9%, with several major funds—including Millennium Management, Goldman Sachs, Focus Partners Wealth and Invesco—also increasing their positions.
• SS&C Technologies beat quarterly earnings and revenue estimates, reporting $1.76 in EPS and $1.70 billion in revenue, while analysts maintain a “Moderate Buy” consensus with an average price target of $91.25. The company also raised its quarterly dividend from $0.27 to $0.30 per share.

Lakewood Capital Management LP purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,016,954 shares of the technology company's stock, valued at approximately $63,102,000. SS&C Technologies comprises approximately 3.3% of Lakewood Capital Management LP's investment portfolio, making the stock its 10th largest holding. Lakewood Capital Management LP owned about 0.43% of SS&C Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC raised its stake in 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 buying an additional 137,301 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in SS&C Technologies by 6,069.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company's stock worth $216,000 after buying an additional 2,549 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of SS&C Technologies by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 690,340 shares of the technology company's stock worth $57,664,000 after acquiring an additional 97,247 shares in the last quarter. Focus Partners Wealth grew its position in shares of SS&C Technologies by 35.1% in the 1st quarter. Focus Partners Wealth now owns 9,362 shares of the technology company's stock worth $782,000 after acquiring an additional 2,431 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of SS&C Technologies by 17.9% in the 2nd quarter. Invesco Ltd. now owns 569,693 shares of the technology company's stock valued at $47,171,000 after acquiring an additional 86,606 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SSNC shares. Wall Street Zen raised SS&C Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Jefferies Financial Group decreased their price objective on shares of SS&C Technologies from $92.00 to $83.00 and set a "buy" rating for the company in a report on Monday, July 20th. JPMorgan Chase & Co. lowered their target price on shares of 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. Royal Bank Of Canada increased their target price on shares of SS&C Technologies from $89.00 to $92.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Finally, UBS Group restated a "buy" rating and issued a $99.00 price target on shares of SS&C Technologies in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.25.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $83.54 on Tuesday. SS&C Technologies Holdings, Inc. has a 12-month low of $61.40 and a 12-month high of $90.81. 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 $19.60 billion, a price-to-earnings ratio of 24.01 and a beta of 1.07. The business has a 50 day simple moving average of $72.14 and a 200 day simple moving average of $70.79.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The technology company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.08. SS&C Technologies had a return on equity of 21.20% and a net margin of 13.16%.The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. 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, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 6.28 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from SS&C Technologies's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.4%. SS&C Technologies's dividend payout ratio is currently 31.03%.

About SS&C Technologies

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.

Want to see what other hedge funds are holding SSNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report).

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