Mirae Asset Global Investments Co. Ltd. Acquires New Stake in SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Mirae Asset Global Investments acquired a new 71,480-share stake in SS&C Technologies during the third quarter, worth approximately $5.5 million.
• SS&C reported quarterly earnings of $1.78 per share, slightly above estimates, while revenue of $1.69 billion met expectations and increased 7.7% year over year.
• The company raised its quarterly dividend from $0.27 to $0.30 per share. Analysts’ average price target was $96.57, with a consensus rating of “Moderate Buy.”

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,480 shares of the technology company's stock, valued at approximately $5,509,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of SS&C Technologies during the second quarter worth $1,043,987,000. Pzena Investment Management LLC purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at $684,819,000. Dimensional Fund Advisors LP lifted its holdings in shares of SS&C Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,115,616 shares of the technology company's stock valued at $210,508,000 after purchasing an additional 60,089 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter worth $178,337,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of SS&C Technologies by 5.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,123,578 shares of the technology company's stock worth $163,664,000 after purchasing an additional 102,252 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Trading Down 1.6%

Shares of SS&C Technologies stock opened at $78.31 on Friday. The firm's 50 day simple moving average is $81.12 and its two-hundred day simple moving average is $74.26. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 22.50 and a beta of 1.04. SS&C Technologies Holdings, Inc. has a 12-month low of $61.40 and a 12-month high of $89.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.69 billion. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. Analysts predict that SS&C Technologies Holdings, Inc. will post 6.38 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.30 dividend. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. SS&C Technologies's dividend payout ratio (DPR) is 34.48%.

Analysts Set New Price Targets

SSNC has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on SS&C Technologies from $92.00 to $101.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Weiss Ratings upgraded SS&C Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 25th. UBS Group reissued a "buy" rating on shares of SS&C Technologies in a report on Friday, October 23rd. DA Davidson boosted their price target on SS&C Technologies from $96.00 to $104.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Finally, Needham & Company LLC boosted their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.57.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.

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