PNC Financial Services Group Inc. reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 36.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,881 shares of the technology company’s stock after selling 23,682 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SS&C Technologies were worth $2,200,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of SS&C Technologies by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock valued at $71,063,000 after purchasing an additional 68,359 shares during the last quarter. Truist Financial Corp lifted its position in SS&C Technologies by 5.0% during the second quarter. Truist Financial Corp now owns 214,750 shares of the technology company’s stock worth $13,014,000 after acquiring an additional 10,209 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of SS&C Technologies by 3.8% during the third quarter. California Public Employees Retirement System now owns 1,306,916 shares of the technology company’s stock worth $68,665,000 after acquiring an additional 48,398 shares during the period. Quantbot Technologies LP acquired a new position in shares of SS&C Technologies in the third quarter valued at approximately $496,000. Finally, Barclays PLC increased its stake in shares of SS&C Technologies by 39.3% during the second quarter. Barclays PLC now owns 414,635 shares of the technology company’s stock worth $25,128,000 after purchasing an additional 116,998 shares during the period. 82.17% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on SSNC shares. Royal Bank of Canada boosted their price target on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. DA Davidson lowered their price target on shares of SS&C Technologies from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Finally, Citigroup raised their price objective on 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, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $69.30.
SS&C Technologies Stock Up 1.1 %
SSNC stock opened at $64.54 on Friday. The stock has a market capitalization of $15.97 billion, a P/E ratio of 27.12 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $61.09 and a 200-day moving average price of $56.68. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $64.93.
SS&C Technologies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. SS&C Technologies’s dividend payout ratio (DPR) is presently 40.34%.
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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.
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