Panagora Asset Management Inc. Buys 81,657 Shares of SS&C Technologies Holdings, Inc. $SSNC

Key Points

• Panagora Asset Management Inc. has increased its stake in SS&C Technologies by 8.4%, owning over 1 million shares valued at approximately $87.76 million.
• Multiple institutional investors have made significant increases in their holdings of SS&C Technologies, with Bank of America raising its stake by 64.9% and Commerce Bank boosting it by over 12,000%.
• SS&C Technologies has announced a quarterly dividend increase to $1.08 per share, representing a yield of 4.9%, up from the previous $0.25 dividend.

Panagora Asset Management Inc. grew its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,050,607 shares of the technology company's stock after buying an additional 81,657 shares during the quarter. Panagora Asset Management Inc. owned 0.43% of SS&C Technologies worth $87,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vident Advisory LLC grew its stake in shares of SS&C Technologies by 101.5% during the first quarter. Vident Advisory LLC now owns 5,971 shares of the technology company's stock valued at $499,000 after buying an additional 3,007 shares during the last quarter. Kodai Capital Management LP grew its stake in shares of SS&C Technologies by 282.7% during the first quarter. Kodai Capital Management LP now owns 196,309 shares of the technology company's stock valued at $16,398,000 after buying an additional 145,014 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of SS&C Technologies in the first quarter worth about $631,000. OMERS ADMINISTRATION Corp grew its stake in shares of SS&C Technologies by 10.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 29,677 shares of the technology company's stock worth $2,479,000 after purchasing an additional 2,769 shares during the last quarter. Finally, Callodine Capital Management LP grew its stake in shares of SS&C Technologies by 24.8% in the first quarter. Callodine Capital Management LP now owns 162,257 shares of the technology company's stock worth $13,553,000 after purchasing an additional 32,257 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James Financial raised their target price on SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley raised their target price on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. DA Davidson raised their target price on SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, UBS Group raised their target price on SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.38.

SS&C Technologies Stock Up 1.0%

SSNC stock traded up $0.88 on Thursday, reaching $88.07. 305,199 shares of the company traded hands, compared to its average volume of 1,359,896. SS&C Technologies Holdings, Inc. has a one year low of $66.83 and a one year high of $91.07. 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 cap of $21.51 billion, a P/E ratio of 27.63 and a beta of 1.24. The firm has a fifty day simple moving average of $85.45 and a 200-day simple moving average of $82.22.

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 company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%.The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. 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 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.9%. This is an increase from SS&C Technologies's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 2nd. SS&C Technologies's payout ratio is 31.35%.

SS&C Technologies Company 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.