SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Stock Position Cut by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,244 shares of the technology company’s stock after selling 22,554 shares during the quarter. Truist Financial Corp owned about 0.07% of SS&C Technologies worth $11,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Boston Partners grew its holdings in SS&C Technologies by 5.3% during the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock worth $455,894,000 after acquiring an additional 435,377 shares during the period. Nomura Holdings Inc. increased its holdings in shares of SS&C Technologies by 571.4% in the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock valued at $21,518,000 after buying an additional 348,563 shares in the last quarter. Sixth Street Partners Management Company L.P. acquired a new stake in shares of SS&C Technologies during the 3rd quarter valued at $11,296,000. Pzena Investment Management LLC boosted its stake in shares of SS&C Technologies by 1.4% during the 3rd quarter. Pzena Investment Management LLC now owns 14,229,448 shares of the technology company’s stock worth $747,615,000 after acquiring an additional 197,934 shares in the last quarter. Finally, Oribel Capital Management LP acquired a new position in shares of SS&C Technologies in the 3rd quarter worth $8,596,000. 96.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on SSNC shares. Truist Financial upped their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. UBS Group boosted their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group lifted their price objective on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday. Needham & Company LLC boosted their target price on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada raised their target price on SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.20.

SS&C Technologies Price Performance

SSNC opened at $61.22 on Thursday. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $65.86. The stock has a fifty day moving average price of $62.65 and a 200 day moving average price of $59.40. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 24.39 and a beta of 1.41.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting the consensus estimate of $1.13. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. Analysts forecast that SS&C Technologies Holdings, Inc. will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s payout ratio is presently 38.25%.

About SS&C Technologies

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.