Handelsbanken Fonder AB Sells 121,478 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Handelsbanken Fonder AB trimmed its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 74.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,843 shares of the technology company’s stock after selling 121,478 shares during the quarter. Handelsbanken Fonder AB’s holdings in SS&C Technologies were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Headinvest LLC bought a new stake in shares of SS&C Technologies in the third quarter valued at approximately $26,000. Operose Advisors LLC bought a new stake in shares of SS&C Technologies in the third quarter valued at approximately $34,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of SS&C Technologies in the third quarter valued at approximately $53,000. Fortis Group Advisors LLC bought a new stake in shares of SS&C Technologies in the third quarter valued at approximately $53,000. Finally, Allworth Financial LP boosted its position in shares of SS&C Technologies by 126.0% in the third quarter. Allworth Financial LP now owns 1,060 shares of the technology company’s stock valued at $56,000 after acquiring an additional 591 shares during the period. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Stock Down 0.1 %

Shares of NASDAQ SSNC opened at $61.24 on Friday. The stock has a market cap of $15.14 billion, a PE ratio of 24.40 and a beta of 1.43. The business has a fifty day moving average of $62.82 and a two-hundred day moving average of $59.08. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $65.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SSNC. 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. TheStreet raised SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. UBS Group raised their target price on SS&C Technologies from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Needham & Company LLC raised their target price on SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised their target price on SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.22.

SS&C Technologies 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.