West Michigan Advisors LLC Makes New Investment in SS&C Technologies Holdings, Inc. $SSNC

West Michigan Advisors LLC bought a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,445 shares of the technology company’s stock, valued at approximately $202,000.

Several other institutional investors also recently made changes to their positions in the stock. IFM Investors Pty Ltd raised its stake in SS&C Technologies by 0.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 43,256 shares of the technology company’s stock valued at $3,582,000 after purchasing an additional 130 shares during the last quarter. Tectonic Advisors LLC grew its holdings in SS&C Technologies by 1.9% in the 1st quarter. Tectonic Advisors LLC now owns 7,534 shares of the technology company’s stock valued at $629,000 after buying an additional 144 shares during the period. MAI Capital Management grew its holdings in SS&C Technologies by 11.7% in the 1st quarter. MAI Capital Management now owns 1,401 shares of the technology company’s stock valued at $117,000 after buying an additional 147 shares during the period. Mutual Advisors LLC grew its holdings in SS&C Technologies by 3.0% in the 2nd quarter. Mutual Advisors LLC now owns 5,175 shares of the technology company’s stock valued at $441,000 after buying an additional 150 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in SS&C Technologies by 1.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,450 shares of the technology company’s stock valued at $1,362,000 after buying an additional 158 shares during the period. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SSNC shares. DA Davidson set a $102.00 price target on SS&C Technologies in a report on Friday. JPMorgan Chase & Co. lifted their price target on SS&C Technologies from $86.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Morgan Stanley boosted their target price on SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group boosted their target price on SS&C Technologies from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC boosted their target price on SS&C Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

SS&C Technologies Stock Up 4.6%

NASDAQ SSNC opened at $84.63 on Friday. The stock has a market cap of $20.67 billion, a PE ratio of 25.11 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $91.07. The business has a 50 day moving average price of $86.86 and a two-hundred day moving average price of $82.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. SS&C Technologies had a return on equity of 19.92% and a net margin of 13.86%.SS&C Technologies’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 EPS. As a group, sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $1.08 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 5.1%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.25. SS&C Technologies’s dividend payout ratio (DPR) is currently 32.05%.

SS&C Technologies Company Profile

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.