SS&C Technologies Holdings, Inc. $SSNC Stock: Pekin Hardy Strauss Inc. Trims Stake

Pekin Hardy Strauss Inc. trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 42.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,935 shares of the technology company’s stock after selling 7,991 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SSNC. BlackRock Inc. purchased a new position in SS&C Technologies in the second quarter worth about $1,043,987,000. Pzena Investment Management LLC bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $684,819,000. Jupiter Topco LLC bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $178,337,000. Legal & General Group Plc purchased a new position in shares of SS&C Technologies in the 2nd quarter worth approximately $71,335,000. Finally, Lakewood Capital Management LP bought a new position in shares of SS&C Technologies during the 2nd quarter valued at approximately $63,102,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. DA Davidson lifted their price objective on shares of SS&C Technologies from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. reduced 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. UBS Group restated a “buy” rating on shares of SS&C Technologies in a report on Friday, October 23rd. Zacks Research cut shares of SS&C Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Needham & Company LLC upped their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.57.

SS&C Technologies Trading Down 0.8%

Shares of SSNC stock traded down $0.60 on Friday, reaching $77.71. 3,113,544 shares of the company’s stock were exchanged, compared to its average volume of 1,499,996. The company’s fifty day simple moving average is $81.01 and its 200 day simple moving average is $74.23. SS&C Technologies Holdings, Inc. has a 52 week low of $61.40 and a 52 week high of $89.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $18.23 billion, a PE ratio of 22.33 and a beta of 1.04.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 22nd. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company posted $1.57 EPS. SS&C Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 6.38 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.30 dividend. The ex-dividend date was Tuesday, September 1st. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. SS&C Technologies’s dividend payout ratio (DPR) is currently 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.