SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Significant Drop in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,240,000 shares, a decline of 23.0% from the March 31st total of 1,610,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 967,800 shares, the days-to-cover ratio is currently 1.3 days.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded up $0.68 during midday trading on Monday, hitting $61.92. 1,154,638 shares of the company’s stock traded hands, compared to its average volume of 970,802. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 24.67 and a beta of 1.43. The firm has a fifty day moving average of $62.78 and a 200 day moving average of $59.24. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. On average, analysts forecast that SS&C Technologies will post 4.61 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SSNC. EverSource Wealth Advisors LLC lifted its stake in SS&C Technologies by 14.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock worth $79,000 after purchasing an additional 166 shares in the last quarter. Carret Asset Management LLC lifted its position in shares of SS&C Technologies by 2.5% in the fourth quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock worth $432,000 after buying an additional 175 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of SS&C Technologies by 0.4% in the first quarter. IFM Investors Pty Ltd now owns 47,246 shares of the technology company’s stock worth $3,041,000 after buying an additional 190 shares in the last quarter. Scotia Capital Inc. boosted its stake in SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after buying an additional 191 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in SS&C Technologies by 4.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company’s stock valued at $261,000 after buying an additional 192 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SSNC shares. DA Davidson reaffirmed a “buy” rating and issued a $78.00 target price on shares of SS&C Technologies in a research report on Tuesday, April 16th. Truist Financial raised their target price 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. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. TheStreet raised SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. Finally, Citigroup boosted their target price on SS&C Technologies from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

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.