AMP Capital Investors Ltd increased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 141.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,679 shares of the technology company’s stock after buying an additional 61,871 shares during the quarter. AMP Capital Investors Ltd’s holdings in SS&C Technologies were worth $5,483,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SSNC. Flinton Capital Management LLC purchased a new stake in SS&C Technologies in the second quarter valued at approximately $854,000. Oregon Public Employees Retirement Fund purchased a new stake in SS&C Technologies in the second quarter valued at approximately $1,536,000. Sandhill Capital Partners LLC raised its position in SS&C Technologies by 3.0% in the second quarter. Sandhill Capital Partners LLC now owns 373,689 shares of the technology company’s stock valued at $19,394,000 after purchasing an additional 10,715 shares during the period. Oak Ridge Investments LLC purchased a new stake in SS&C Technologies in the second quarter valued at approximately $2,668,000. Finally, Korea Investment CORP purchased a new stake in SS&C Technologies in the second quarter valued at approximately $280,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on SSNC shares. Sandler O’Neill reissued a “buy” rating and issued a $62.00 target price on shares of SS&C Technologies in a research report on Monday, July 23rd. Zacks Investment Research lowered SS&C Technologies from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Needham & Company LLC boosted their target price on SS&C Technologies to $68.00 and gave the company a “buy” rating in a research report on Monday, August 6th. JPMorgan Chase & Co. started coverage on SS&C Technologies in a research report on Wednesday, August 1st. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.09.
SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business had revenue of $908.50 million during the quarter, compared to the consensus estimate of $903.63 million. SS&C Technologies had a net margin of 9.99% and a return on equity of 14.43%. The company’s quarterly revenue was up 121.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be paid a $0.08 dividend. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. SS&C Technologies’s payout ratio is 17.88%.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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