SS&C Technologies Holdings, Inc. $SSNC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461,686 shares of the technology company’s stock after selling 18,755 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of SS&C Technologies worth $35,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in SS&C Technologies during the 3rd quarter valued at about $5,509,000. ProShare Advisors LLC lifted its holdings in shares of SS&C Technologies by 8.7% in the third quarter. ProShare Advisors LLC now owns 104,480 shares of the technology company’s stock worth $8,052,000 after buying an additional 8,373 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of SS&C Technologies by 23.5% in the third quarter. Vise Technologies Inc. now owns 4,582 shares of the technology company’s stock valued at $353,000 after acquiring an additional 872 shares during the period. State of Wyoming bought a new position in shares of SS&C Technologies in the third quarter valued at approximately $65,000. Finally, CHICAGO TRUST Co NA boosted its position in shares of SS&C Technologies by 8.2% in the third quarter. CHICAGO TRUST Co NA now owns 11,978 shares of the technology company’s stock valued at $923,000 after acquiring an additional 907 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson upped their target price on shares of SS&C Technologies from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Zacks Research downgraded shares of SS&C Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. BWS Financial restated a “buy” rating on shares of SS&C Technologies in a research report on Wednesday, September 9th. Finally, Weiss Ratings upgraded shares of SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $96.57.

SS&C Technologies Stock Down 1.6%

SSNC opened at $78.31 on Friday. The stock has a market cap of $18.38 billion, a PE ratio of 22.50 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09. SS&C Technologies Holdings, Inc. has a 52 week low of $61.40 and a 52 week high of $89.93. The business’s fifty day simple moving average is $81.12 and its 200 day simple moving average is $74.26.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. SS&C Technologies had a return on equity of 21.74% and a net margin of 12.76%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts expect that SS&C Technologies Holdings, Inc. will post 6.38 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s payout ratio is 34.48%.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.