State of New Jersey Common Pension Fund D Lowers Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

State of New Jersey Common Pension Fund D reduced its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNCFree Report) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,971 shares of the technology company’s stock after selling 2,435 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SS&C Technologies were worth $5,988,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SSNC. Price T Rowe Associates Inc. MD lifted its position in shares of SS&C Technologies by 482.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,727,873 shares of the technology company’s stock worth $210,514,000 after purchasing an additional 3,088,224 shares in the last quarter. Norges Bank bought a new stake in shares of SS&C Technologies in the fourth quarter worth $124,570,000. Shapiro Capital Management LLC bought a new stake in shares of SS&C Technologies in the fourth quarter worth $118,298,000. Durable Capital Partners LP bought a new stake in shares of SS&C Technologies in the second quarter worth $121,640,000. Finally, Capital World Investors bought a new stake in shares of SS&C Technologies in the first quarter worth $103,226,000. 82.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Morgan Stanley dropped their price target on shares of SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, October 27th. Needham & Company LLC lowered their target price on shares of SS&C Technologies from $71.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 27th. DA Davidson lowered their target price on shares of SS&C Technologies from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, UBS Group began coverage on shares of SS&C Technologies in a research note on Tuesday, November 7th. They set a “buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $67.75.

Check Out Our Latest Stock Report on SSNC

SS&C Technologies Stock Up 0.4 %

SS&C Technologies stock opened at $61.24 on Tuesday. The company has a 50-day simple moving average of $60.24 and a 200-day simple moving average of $56.34. The firm has a market capitalization of $15.16 billion, a P/E ratio of 25.31 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 1.14. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $63.25.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio is currently 39.67%.

SS&C Technologies Profile

(Free Report)

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.

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

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