LSV Asset Management Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• LSV Asset Management has reduced its holdings in SS&C Technologies by 8.4%, owning 425,473 shares following a sale of 38,900 shares, while other institutional investors have also increased their stakes significantly.
• Research analysts have recently raised their price targets for SS&C Technologies, with a consensus average target now at $97.13 and several analysts issuing "buy" and "strong buy" ratings.
• SS&C Technologies announced a quarterly dividend of $0.25, translating to an annualized yield of 1.2%, and has a payout ratio of 31.35%.

LSV Asset Management lessened its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,473 shares of the technology company's stock after selling 38,900 shares during the quarter. LSV Asset Management owned approximately 0.17% of SS&C Technologies worth $35,540,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Commerce Bank boosted its stake in SS&C Technologies by 12,105.9% during the 1st quarter. Commerce Bank now owns 434,775 shares of the technology company's stock valued at $36,317,000 after purchasing an additional 431,213 shares during the period. Jefferies Financial Group Inc. bought a new stake in SS&C Technologies in the 1st quarter valued at $544,000. US Bancorp DE increased its holdings in shares of SS&C Technologies by 2.7% during the 1st quarter. US Bancorp DE now owns 17,699 shares of the technology company's stock worth $1,478,000 after purchasing an additional 469 shares during the period. Sound View Wealth Advisors Group LLC acquired a new position in shares of SS&C Technologies during the first quarter valued at about $217,000. Finally, Natixis Advisors LLC increased its stake in SS&C Technologies by 8.8% during the first quarter. Natixis Advisors LLC now owns 734,047 shares of the technology company's stock valued at $61,315,000 after acquiring an additional 59,309 shares during the period. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Price Performance

SSNC stock traded up $0.20 during trading on Thursday, reaching $86.37. 998,856 shares of the company were exchanged, compared to its average volume of 1,391,204. SS&C Technologies Holdings, Inc. has a twelve month low of $66.83 and a twelve month high of $89.73. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 27.08 and a beta of 1.25. The company has a 50-day moving average of $82.45 and a two-hundred day moving average of $81.51.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $1.54 billion during 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%. SS&C Technologies's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

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

Wall Street Analyst Weigh In

SSNC has been the subject of several research reports. UBS Group raised their target price on SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley increased 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. Raymond James Financial upped their price objective on 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, Needham & Company LLC boosted their price target on SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Two research 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 company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $97.13.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, the director owned 12,476 shares of the company's stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.40% of the company's stock.

SS&C Technologies Profile

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.