Raymond James Financial Services Advisors Inc. Cuts Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James Financial Services Advisors Inc. decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 31.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,726 shares of the technology company’s stock after selling 4,874 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SS&C Technologies were worth $655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of SS&C Technologies by 202.0% in the fourth quarter. SG Americas Securities LLC now owns 48,001 shares of the technology company’s stock valued at $2,933,000 after buying an additional 32,106 shares in the last quarter. Heron Bay Capital Management increased its position in shares of SS&C Technologies by 4.3% in the fourth quarter. Heron Bay Capital Management now owns 262,922 shares of the technology company’s stock valued at $16,067,000 after buying an additional 10,880 shares in the last quarter. Archford Capital Strategies LLC increased its position in shares of SS&C Technologies by 52.4% in the fourth quarter. Archford Capital Strategies LLC now owns 23,010 shares of the technology company’s stock valued at $1,406,000 after buying an additional 7,912 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in shares of SS&C Technologies in the fourth quarter valued at $2,388,000. Finally, Raymond James Trust N.A. increased its position in shares of SS&C Technologies by 5.3% in the fourth quarter. Raymond James Trust N.A. now owns 21,052 shares of the technology company’s stock valued at $1,286,000 after buying an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SSNC shares. Needham & Company LLC increased their price objective on SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. DA Davidson reaffirmed a “buy” rating and set a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday. Citigroup increased their price objective on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Truist Financial increased their price objective on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Finally, StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.78.

SS&C Technologies Stock Down 0.1 %

Shares of NASDAQ:SSNC opened at $60.24 on Thursday. The stock’s 50-day moving average price is $62.89 and its two-hundred day moving average price is $58.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $65.86. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 25.31 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting analysts’ consensus estimates of $1.13. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. On average, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.61 EPS for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. SS&C Technologies’s dividend payout ratio (DPR) is 40.34%.

About SS&C Technologies

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.