Sumitomo Mitsui Trust Group Inc. Sells 32,480 Shares of SS&C Technologies Holdings, Inc. $SSNC

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,250 shares of the technology company’s stock after selling 32,480 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in SS&C Technologies were worth $41,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SSNC. Larson Financial Group LLC increased its position in shares of SS&C Technologies by 634.8% during the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company’s stock valued at $28,000 after buying an additional 292 shares during the period. Whittier Trust Co. bought a new stake in shares of SS&C Technologies during the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of SS&C Technologies during the first quarter valued at about $29,000. Elequin Capital LP bought a new stake in shares of SS&C Technologies during the first quarter valued at about $30,000. Finally, SVB Wealth LLC bought a new position in shares of SS&C Technologies in the first quarter worth approximately $33,000. 96.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SSNC. UBS Group upped their price objective on shares of SS&C Technologies from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada upped their price objective on shares of SS&C Technologies from $97.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson set a $102.00 price objective on shares of SS&C Technologies in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of SS&C Technologies from $86.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and an average price target of $100.38.

SS&C Technologies Stock Up 1.0%

Shares of SSNC opened at $85.45 on Tuesday. The firm has a market cap of $20.87 billion, a P/E ratio of 25.36 and a beta of 1.23. The stock has a 50 day simple moving average of $86.83 and a two-hundred day simple moving average of $83.01. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. SS&C Technologies Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $91.07.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $1.08 dividend. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.25. This represents a $4.32 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. SS&C Technologies’s payout ratio is currently 32.05%.

About SS&C Technologies

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.