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Vestcor Inc Has $926,000 Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

SS&C Technologies logo with Computer and Technology background

Key Points

  • Vestcor Inc increased its ownership of SS&C Technologies by 200.5%, purchasing an additional 7,394 shares, bringing its total holdings to 11,082 shares valued at approximately $926,000.
  • SS&C Technologies reported a quarterly earnings per share of $1.45, exceeding analysts' expectations, and noted a 5.9% increase in year-over-year revenue.
  • The company recently declared a quarterly dividend of $0.25 per share, providing an annual yield of 1.2% with a dividend payout ratio of 31.35%.
  • Interested in SS&C Technologies? Here are five stocks we like better.

Vestcor Inc increased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 200.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,082 shares of the technology company's stock after purchasing an additional 7,394 shares during the period. Vestcor Inc's holdings in SS&C Technologies were worth $926,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC raised its stake in SS&C Technologies by 2.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,003 shares of the technology company's stock valued at $531,000 after acquiring an additional 139 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in SS&C Technologies by 16.1% during the 1st quarter. Global X Japan Co. Ltd. now owns 1,011 shares of the technology company's stock valued at $84,000 after acquiring an additional 140 shares in the last quarter. Tectonic Advisors LLC raised its stake in SS&C Technologies by 1.9% during the 1st quarter. Tectonic Advisors LLC now owns 7,534 shares of the technology company's stock valued at $629,000 after acquiring an additional 144 shares in the last quarter. Wellington Management Group LLP raised its stake in SS&C Technologies by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 3,193 shares of the technology company's stock valued at $242,000 after acquiring an additional 161 shares in the last quarter. Finally, Prudent Man Advisors LLC lifted its position in SS&C Technologies by 2.2% in the first quarter. Prudent Man Advisors LLC now owns 7,651 shares of the technology company's stock worth $639,000 after purchasing an additional 163 shares during the period. Institutional investors own 96.95% of the company's stock.

Wall Street Analyst Weigh In

SSNC has been the topic of several research reports. Morgan Stanley boosted their price target on shares of SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Raymond James Financial lifted their target price on SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group lifted their target price on SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $97.13.

Check Out Our Latest Report on SS&C Technologies

Insider Buying and Selling

In other news, Director Michael Jay Zamkow sold 12,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director owned 12,476 shares in the company, valued at approximately $997,081.92. This represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.40% of the stock is owned by company insiders.

SS&C Technologies Stock Up 1.4%

NASDAQ:SSNC traded up $1.16 on Monday, hitting $85.39. 917,506 shares of the company's stock traded hands, compared to its average volume of 1,254,187. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. 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 50-day moving average price of $82.13 and a 200-day moving average price of $81.40. The company 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 released its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The business's revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. SS&C Technologies's payout ratio is 31.35%.

About SS&C Technologies

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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