State of New Jersey Common Pension Fund D Buys 3,697 Shares of SS&C Technologies Holdings, Inc. $SSNC

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in SS&C Technologies Holdings, Inc. by 5.5%, now holding 70,686 shares valued at approximately $5.9 million.
• Several analysts have upgraded SS&C's stock ratings, with Needham & Company increasing the price target from $90 to $100 and UBS Group from $105 to $108, both maintaining a "buy" rating.
• The company recently declared a quarterly dividend of $1.08 per share, representing an annualized yield of 5.0%, up from its previous dividend of $0.25.

State of New Jersey Common Pension Fund D grew its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,686 shares of the technology company's stock after buying an additional 3,697 shares during the period. State of New Jersey Common Pension Fund D's holdings in SS&C Technologies were worth $5,904,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its holdings in SS&C Technologies by 29.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock worth $1,341,000 after purchasing an additional 3,698 shares in the last quarter. Unigestion Holding SA raised its holdings in shares of SS&C Technologies by 861.7% in the 1st quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock valued at $7,964,000 after acquiring an additional 85,427 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at about $509,000. Bank of New York Mellon Corp raised its holdings in shares of SS&C Technologies by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after acquiring an additional 75,807 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SS&C Technologies by 403.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after acquiring an additional 60,784 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Trading Up 1.7%

SS&C Technologies stock traded up $1.50 during trading hours on Friday, reaching $90.20. The company had a trading volume of 1,923,985 shares, compared to its average volume of 1,246,718. 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 50-day moving average price of $84.10 and a 200 day moving average price of $82.09. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 28.28 and a beta of 1.25. SS&C Technologies Holdings, Inc. has a 12-month low of $66.83 and a 12-month high of $91.07.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, topping 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. SS&C Technologies has set its FY 2025 guidance at 5.820-6.060 EPS. Q3 2025 guidance at 1.440-1.500 EPS. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from SS&C Technologies's previous quarterly dividend of $0.25. This represents a $4.32 annualized dividend and a dividend yield of 4.8%. SS&C Technologies's dividend payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley raised their price target on SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. UBS Group raised their price objective on SS&C Technologies from $108.00 to $110.00 and gave the company a "buy" rating in a report on Friday. Raymond James Financial raised their price objective on SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Needham & Company LLC raised their price objective on SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $97.38.

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.