Sheets Smith Wealth Management Takes $220,000 Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sheets Smith Wealth Management acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,600 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Carret Asset Management LLC grew its holdings in SS&C Technologies by 2.5% during the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after purchasing an additional 175 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of SS&C Technologies by 4.0% in the third quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company’s stock worth $261,000 after buying an additional 192 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of SS&C Technologies by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 9,240 shares of the technology company’s stock worth $565,000 after acquiring an additional 194 shares during the last quarter. Arizona State Retirement System boosted its holdings in SS&C Technologies by 0.3% during the 4th quarter. Arizona State Retirement System now owns 61,366 shares of the technology company’s stock valued at $3,750,000 after acquiring an additional 196 shares during the period. Finally, Argent Trust Co grew its position in SS&C Technologies by 1.4% in the 3rd quarter. Argent Trust Co now owns 19,040 shares of the technology company’s stock valued at $1,000,000 after acquiring an additional 256 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the subject of a number of recent analyst reports. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. UBS Group upped their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Truist Financial lifted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Jefferies Financial Group increased their price objective on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, Royal Bank of Canada lifted their target price on SS&C Technologies from $65.00 to $72.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

SS&C Technologies Trading Up 1.6 %

NASDAQ:SSNC opened at $62.78 on Tuesday. The firm has a 50 day moving average of $62.50 and a 200 day moving average of $59.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $65.86. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 25.01 and a beta of 1.42.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. As a group, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio is presently 38.25%.

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.