SS&C Technologies Holdings, Inc. $SSNC Stock Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its SS&C Technologies stake by 73.9% in the third quarter, adding 600,451 shares to hold about 1.41 million shares worth $110.8 million. Institutional investors collectively own 96.9% of the stock.
• SS&C reported quarterly earnings of $1.78 per share, slightly above estimates, while revenue grew 7.7% year over year to $1.69 billion.
• Analysts’ consensus rating is Moderate Buy, with a $96.57 average price target; the company also raised its quarterly dividend from $0.27 to $0.30 per share.

Allspring Global Investments Holdings LLC increased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 73.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,412,857 shares of the technology company's stock after purchasing an additional 600,451 shares during the period. Allspring Global Investments Holdings LLC owned 0.60% of SS&C Technologies worth $110,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of SS&C Technologies in the second quarter worth approximately $1,043,987,000. Pzena Investment Management LLC acquired a new position in SS&C Technologies in the 2nd quarter valued at $684,819,000. Jupiter Topco LLC acquired a new position in SS&C Technologies in the 2nd quarter valued at $178,337,000. Legal & General Group Plc purchased a new position in SS&C Technologies in the 2nd quarter valued at $71,335,000. Finally, Lakewood Capital Management LP purchased a new position in SS&C Technologies in the 2nd quarter valued at $63,102,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSNC has been the subject of a number of research reports. Evercore raised shares of SS&C Technologies to an "outperform" rating in a report on Friday, October 23rd. UBS Group reissued a "buy" rating on shares of SS&C Technologies in a research note on Friday, October 23rd. Jefferies Financial Group boosted their price target on shares of SS&C Technologies from $83.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. DA Davidson upped their price objective on shares of SS&C Technologies from $96.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Zacks Research downgraded shares of SS&C Technologies from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.57.

SS&C Technologies Stock Up 0.2%

Shares of NASDAQ:SSNC opened at $77.89 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average of $80.90 and a two-hundred day moving average of $74.19. The stock has a market cap of $18.28 billion, a P/E ratio of 22.38 and a beta of 1.04. SS&C Technologies Holdings, Inc. has a 52-week low of $61.40 and a 52-week high of $89.93.

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

SS&C Technologies Increases Dividend

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

SS&C Technologies Company Profile

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