BlackRock Inc. Has $573.50 Million Stake in SS&C Technologies Holdings, Inc. (SSNC)

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BlackRock Inc. grew its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.2% in the 2nd quarter, Holdings Channel reports. The firm owned 11,050,033 shares of the technology company’s stock after acquiring an additional 928,951 shares during the quarter. BlackRock Inc.’s holdings in SS&C Technologies were worth $573,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alkeon Capital Management LLC lifted its holdings in shares of SS&C Technologies by 37.5% during the first quarter. Alkeon Capital Management LLC now owns 3,592,654 shares of the technology company’s stock valued at $192,710,000 after purchasing an additional 980,000 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in SS&C Technologies by 7.5% during the first quarter. Burgundy Asset Management Ltd. now owns 2,874,247 shares of the technology company’s stock valued at $154,175,000 after buying an additional 200,091 shares during the period. Cantillon Capital Management LLC raised its position in SS&C Technologies by 72.6% during the first quarter. Cantillon Capital Management LLC now owns 2,834,465 shares of the technology company’s stock valued at $152,040,000 after buying an additional 1,192,707 shares during the period. Bank of New York Mellon Corp raised its position in SS&C Technologies by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 1,848,850 shares of the technology company’s stock valued at $95,954,000 after buying an additional 134,567 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in SS&C Technologies by 7.1% during the second quarter. CIBC Private Wealth Group LLC now owns 1,479,552 shares of the technology company’s stock valued at $76,789,000 after buying an additional 97,535 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

Shares of SSNC stock opened at $55.13 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.63. SS&C Technologies Holdings, Inc. has a fifty-two week low of $37.45 and a fifty-two week high of $60.97. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.94 and a beta of 1.19.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, August 2nd. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. SS&C Technologies had a return on equity of 14.43% and a net margin of 9.99%. The company had revenue of $908.50 million for the quarter, compared to analyst estimates of $903.63 million. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue was up 121.0% compared to the same quarter last year. equities research analysts expect that SS&C Technologies Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be given a $0.08 dividend. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, August 31st. SS&C Technologies’s dividend payout ratio is presently 17.88%.

Several research analysts recently weighed in on SSNC shares. Needham & Company LLC upped their price target on SS&C Technologies to $68.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Sandler O’Neill reissued a “buy” rating and set a $64.00 price target on shares of SS&C Technologies in a research report on Friday, August 3rd. Zacks Investment Research raised SS&C Technologies from a “sell” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Thursday, August 9th. BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Finally, ValuEngine lowered SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SS&C Technologies presently has an average rating of “Buy” and an average target price of $60.91.

About SS&C Technologies

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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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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