Public Sector Pension Investment Board Invests $9.44 Million in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• The Public Sector Pension Investment Board acquired a new stake in SS&C Technologies Holdings, Inc., purchasing 113,058 shares valued at approximately $9.44 million.
• SS&C Technologies reported a 5.9% year-over-year revenue increase to $1.54 billion, with earnings per share of $1.45 for the latest quarter, beating analyst estimates.
• The company's dividend payout ratio stands at 31.35% with a quarterly dividend of $0.25 per share, yielding an annualized rate of $1.00.

Public Sector Pension Investment Board purchased a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 113,058 shares of the technology company's stock, valued at approximately $9,444,000.

A number of other institutional investors have also added to or reduced their stakes in SSNC. Invesco Ltd. raised its holdings in shares of SS&C Technologies by 18.3% in the fourth quarter. Invesco Ltd. now owns 470,526 shares of the technology company's stock worth $35,656,000 after buying an additional 72,775 shares during the period. Townsquare Capital LLC grew its position in SS&C Technologies by 51.5% during the 4th quarter. Townsquare Capital LLC now owns 5,161 shares of the technology company's stock worth $391,000 after purchasing an additional 1,754 shares during the last quarter. Mariner LLC grew its position in SS&C Technologies by 304.7% during the 4th quarter. Mariner LLC now owns 89,921 shares of the technology company's stock worth $6,814,000 after purchasing an additional 67,704 shares during the last quarter. Canada Pension Plan Investment Board raised its position in SS&C Technologies by 338.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 19,300 shares of the technology company's stock worth $1,463,000 after buying an additional 14,900 shares during the last quarter. Finally, Dean Investment Associates LLC boosted its position in SS&C Technologies by 4.4% in the 4th quarter. Dean Investment Associates LLC now owns 46,869 shares of the technology company's stock worth $3,552,000 after purchasing an additional 1,996 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SSNC shares. Morgan Stanley raised their price target 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. Raymond James Financial raised their price target on shares of SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. UBS Group lifted their price objective on shares of 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. upped their price target 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. Finally, Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research report 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $97.13.

SS&C Technologies Stock Down 1.2%

Shares of NASDAQ:SSNC traded down $1.02 during trading on Friday, reaching $86.83. 1,222,305 shares of the company traded hands, compared to its average volume of 1,281,585. The firm has a fifty day simple moving average of $83.37 and a 200 day simple moving average of $81.84. SS&C Technologies Holdings, Inc. has a 1-year low of $66.83 and a 1-year high of $89.73. The firm has a market cap of $21.21 billion, a P/E ratio of 27.22 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. SS&C Technologies's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $1.27 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.25 per share. 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 payout ratio is currently 31.35%.

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.