Thornburg Investment Management Inc. bought a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 3rd quarter, Holdings Channel reports. The fund bought 416,851 shares of the technology company’s stock, valued at approximately $23,690,000.
Several other hedge funds have also recently modified their holdings of SSNC. Squar Milner Financial Services LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $108,000. CENTRAL TRUST Co increased its holdings in shares of SS&C Technologies by 3,755.1% in the second quarter. CENTRAL TRUST Co now owns 3,778 shares of the technology company’s stock worth $196,000 after purchasing an additional 3,680 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of SS&C Technologies in the second quarter worth about $207,000. Signature Financial Management Inc. bought a new stake in shares of SS&C Technologies in the second quarter worth about $208,000. Finally, Sky Investment Group LLC bought a new stake in shares of SS&C Technologies in the third quarter worth about $216,000. 86.77% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ SSNC traded up $0.95 during trading hours on Wednesday, hitting $50.36. 4,473 shares of the company were exchanged, compared to its average volume of 1,877,602. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 1.53. SS&C Technologies Holdings, Inc. has a 52 week low of $39.15 and a 52 week high of $60.97. The stock has a market capitalization of $12.15 billion, a P/E ratio of 27.92, a PEG ratio of 1.50 and a beta of 1.25.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. SS&C Technologies had a return on equity of 16.18% and a net margin of 7.61%. The company had revenue of $992.40 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 137.3% on a year-over-year basis. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 2.52 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. BidaskClub cut SS&C Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. set a $70.00 target price on SS&C Technologies and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research raised SS&C Technologies from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Wednesday, October 10th. ValuEngine cut SS&C Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, DA Davidson reaffirmed a “hold” rating and issued a $60.00 target price on shares of SS&C Technologies in a report on Monday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.00.
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SS&C Technologies 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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