SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Significant Drop in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,420,000 shares, a drop of 24.5% from the February 29th total of 1,880,000 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 907,800 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in SS&C Technologies by 18.1% during the 1st quarter. American Century Companies Inc. now owns 4,476 shares of the technology company's stock worth $335,000 after purchasing an additional 685 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of SS&C Technologies by 19.1% in the 1st quarter. Private Advisor Group LLC now owns 3,591 shares of the technology company's stock valued at $270,000 after acquiring an additional 577 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of SS&C Technologies in the 1st quarter valued at $336,000. Rhumbline Advisers increased its stake in shares of SS&C Technologies by 13.0% in the 1st quarter. Rhumbline Advisers now owns 210,330 shares of the technology company's stock valued at $15,779,000 after acquiring an additional 24,230 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in SS&C Technologies by 10.6% during the 1st quarter. Yousif Capital Management LLC now owns 4,780 shares of the technology company's stock valued at $359,000 after purchasing an additional 460 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Price Performance

Shares of SSNC traded down $0.18 during mid-day trading on Friday, reaching $64.37. The company had a trading volume of 1,093,328 shares, compared to its average volume of 991,903. The company's 50 day simple moving average is $62.70 and its 200 day simple moving average is $58.01. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $65.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 27.05 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting analysts' consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. Analysts expect that SS&C Technologies will post 4.61 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. SS&C Technologies's payout ratio is currently 40.34%.

Analyst Ratings Changes

SSNC has been the topic of a number of recent research reports. Needham & Company LLC raised their price target on shares of SS&C Technologies from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, February 14th. Truist Financial increased their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, February 14th. TheStreet upgraded shares of SS&C Technologies from a "c+" rating to a "b" rating in a research note on Friday, February 23rd. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 14th. Finally, Citigroup increased their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.44.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.