SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest … – MarketBeat

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Abbey Colton January 1, 2023

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SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,330,000 shares, an increase of 19.4% from the November 30th total of 2,790,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

SSNC has been the topic of a number of research analyst reports. Truist Financial reduced their target price on SS&C Technologies from $75.00 to $55.00 in a report on Tuesday, December 6th. Jefferies Financial Group reduced their target price on SS&C Technologies from $81.00 to $55.00 in a report on Friday, October 28th. Royal Bank of Canada reduced their target price on SS&C Technologies from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Morgan Stanley cut their price target on SS&C Technologies from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Finally, DA Davidson cut their price target on SS&C Technologies to $70.00 in a report on Tuesday, November 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and a consensus target price of $64.73.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds have recently modified their holdings of SSNC. American Century Companies Inc. increased its position in shares of SS&C Technologies by 18.1% during the 1st quarter. American Century Companies Inc. now owns 4,476 shares of the technology company’s stock valued at $335,000 after purchasing an additional 685 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of SS&C Technologies during the 1st quarter valued at $302,000. Private Advisor Group LLC increased its position in shares of SS&C Technologies by 19.1% during the 1st quarter. Private Advisor Group LLC now owns 3,591 shares of the technology company’s stock valued at $270,000 after purchasing an additional 577 shares during the period. Citigroup Inc. increased its position in shares of SS&C Technologies by 26.7% during the 1st quarter. Citigroup Inc. now owns 159,506 shares of the technology company’s stock valued at $11,967,000 after purchasing an additional 33,594 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of SS&C Technologies by 28.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 62,621 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 13,893 shares during the period. 83.14% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

SSNC traded down $0.38 during trading hours on Friday, hitting $52.06. The company’s stock had a trading volume of 811,498 shares, compared to its average volume of 1,443,461. SS&C Technologies has a fifty-two week low of $45.25 and a fifty-two week high of $84.85. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $13.11 billion, a PE ratio of 19.95 and a beta of 1.45. The company has a 50-day simple moving average of $51.33 and a 200 day simple moving average of $54.49.
SS&C Technologies (NASDAQ:SSNC – Get Rating) last posted its earnings results on Thursday, October 27th. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. SS&C Technologies had a return on equity of 19.05% and a net margin of 13.24%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, sell-side analysts expect that SS&C Technologies will post 4.25 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, November 30th. SS&C Technologies’s dividend payout ratio is currently 30.65%.

SS&C Technologies Company Profile

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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.

Further Reading

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abbeycolton353
Abbey Colton

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