DnB Asset Management AS Decreases Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

DnB Asset Management AS lowered its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 45,495 shares of the technology company’s stock after selling 500 shares during the quarter. DnB Asset Management AS’s holdings in SS&C Technologies were worth $3,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in SS&C Technologies by 26.4% in the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after purchasing an additional 6,721 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of SS&C Technologies by 82.0% in the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock valued at $1,446,000 after buying an additional 8,598 shares in the last quarter. State Street Corp boosted its holdings in shares of SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after buying an additional 121,223 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in SS&C Technologies by 993.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company’s stock worth $26,924,000 after acquiring an additional 322,781 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in SS&C Technologies by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock valued at $25,034,000 after acquiring an additional 11,077 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SSNC. UBS Group raised their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. DA Davidson lifted their price target on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Needham & Company LLC increased their price objective on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James lifted their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $97.50.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $83.53 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day simple moving average of $84.25 and a 200-day simple moving average of $78.36. SS&C Technologies Holdings, Inc. has a 12 month low of $59.63 and a 12 month high of $89.73. The stock has a market capitalization of $20.59 billion, a PE ratio of 27.84 and a beta of 1.36.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, March 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 33.33%.

Insider Activity

In related news, SVP Jason Douglas White sold 71,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This trade represents a 91.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now owns 23,200 shares in the company, valued at $2,050,648. The trade was a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.