SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) saw a significant spike in short interest in October. As of October 31, there was short interest totaling 3,120,000 shares, an increase of 39.9% from the October 15 total of 2,230,000 shares. Based on an average daily trading volume of 1,520,000 shares, the days-to-cover ratio is currently 2.1 days. About 1.4% of the company’s shares are sold short.
Institutional trading in SS&C technologies
Several institutional investors have recently bought and sold shares in the company. BlackRock Inc. increased its position in SS&C Technologies by 2.7% in the first quarter. BlackRock Inc. now owns 20,759,142 shares of the technology company’s stock valued at $1,557,352,000 after purchasing an additional 542,317 shares last quarter. Vanguard Group Inc. increased its position in SS&C Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,029,098 shares of the technology company’s stock valued at $1,502,583,000 after acquiring an additional 266,741 shares last quarter. Pzena Investment Management LLC increased its position in SS&C Technologies shares by 19.9% in the third quarter. Pzena Investment Management LLC now owns 10,688,624 shares of the technology company’s stock valued at $510,382,000 after purchasing an additional 1,772,233 shares last quarter. Boston Partners increased its position in SS&C Technologies by 15.3% in the third quarter. Boston Partners now owns 7,695,276 shares of the technology company, valued at $367,889,000, after purchasing an additional 1,023,361 shares last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of SS&C Technologies by 29.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,503,268 shares of the technology company valued at $358,281,000 after purchasing an additional 1,687,932 shares last quarter. 83.60% of the shares are owned by institutional investors and hedge funds.
Wall Street analyst ponders
A number of research firms have commented on SSNC. Raymond James lowered his price target on SS&C Technologies to $63.00 from $83.00 and gave the company a “strong buy” rating in a research note on Friday, October 28. The Royal Bank of Canada lowered its target price on SS&C Technologies to $65.00 from $67.00 and gave the stock an outperform rating in a report on Friday, October 28. Morgan Stanley lowered its price target on SS&C Technologies to $55.00 from $65.00 and gave the stock an “equal weight” rating in a report on Friday, October 28. Jefferies Financial Group lowered its price target on SS&C Technologies to $55.00 from $81.00 in a report on Friday, October 28. Finally, Citigroup lowered its price target on SS&C Technologies to $75.00 from $86.00 in a report on Tuesday, July 26. One investment analyst has rated the stock with a hold rating, eight with a buy rating and one with a strong buy rating. According to MarketBeat, the company currently has a consensus rating of “buy” and an average target price of $68.36.
Stock development of SS&C Technologies
SSNC rose $1.42 during Friday trade to hit $53.51. The company’s shares had a trading volume of 1,435,079 shares compared to an average volume of 1,613,229. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt to equity ratio of 1.24. SS&C Technologies has a 12-month low of $45.25 and a 12-month high of $84.85. The company’s 50-day simple moving average is $50.66 and its 200-day simple moving average is $57.18. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 20.50 and a beta of 1.45.
SS&C Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. A dividend of $0.20 was paid to shareholders of record on Thursday, September 1st. This equates to an annualized dividend of $0.80 and a yield of 1.50%. The ex-dividend date was Wednesday 31st August. SS&C Technologies’ payout ratio is currently 30.65%.
About SS&C Technologies
SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to the financial services and healthcare industries. The company owns and operates a technology stack for all securities accounting; front office functions such as trading and modelling; Middle office functions include portfolio management and reporting; Back-office functions such as accounting, performance measurement, reconciliation, reporting, processing and billing, and compliance and tax reporting; and healthcare solutions, which include claims adjudication, benefits management, care management, and business intelligence solutions.
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