SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Holdings Decreased by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its holdings in SS&C Technologies by 55.1%, resulting in ownership of 7,532 shares worth approximately $617,000.
• Despite the decrease, other institutional investors, such as Atwood & Palmer Inc. and Larson Financial Group LLC, significantly increased their stakes in SS&C Technologies during the same period.
• Analysts maintain a consensus rating of "Buy" for SS&C Technologies, with target prices raised by several firms, indicating a growing optimism about the company's financial prospects.

Raiffeisen Bank International AG decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 55.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,532 shares of the technology company's stock after selling 9,240 shares during the quarter. Raiffeisen Bank International AG's holdings in SS&C Technologies were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SSNC. Atwood & Palmer Inc. grew its holdings in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock valued at $25,000 after buying an additional 166 shares in the last quarter. Larson Financial Group LLC grew its stake in SS&C Technologies by 634.8% in the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after purchasing an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new position in SS&C Technologies in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC purchased a new position in SS&C Technologies in the first quarter valued at about $29,000. Finally, Colonial Trust Co SC grew its stake in SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after purchasing an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SSNC shares. DA Davidson boosted their target price on SS&C Technologies from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. UBS Group boosted their price objective 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. Needham & Company LLC boosted their price objective on SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies has a consensus rating of "Buy" and an average target price of $97.13.

SS&C Technologies Trading Up 1.4%

Shares of SSNC opened at $85.39 on Tuesday. SS&C Technologies Holdings, Inc. has a 1 year low of $66.83 and a 1 year high of $89.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $82.24 and a 200-day simple moving average of $81.45. The stock has a market cap of $20.85 billion, a PE ratio of 26.77 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $1.54 billion for 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 business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. On average, sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

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. The ex-dividend date was Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 1.2%. SS&C Technologies's payout ratio is currently 31.35%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total value of $999,000.00. Following the sale, the director directly owned 12,476 shares in the company, valued at $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.

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