Short Interest in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Drops By 14.4%

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,550,000 shares, a drop of 14.4% from the February 13th total of 2,980,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.2% of the shares of the company are short sold.

SS&C Technologies Stock Down 0.4 %

Shares of NASDAQ SSNC opened at $81.75 on Wednesday. SS&C Technologies has a 12 month low of $59.63 and a 12 month high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 27.25 and a beta of 1.36. The business has a 50-day moving average of $83.20 and a 200-day moving average of $77.75.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Sell-side analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. SS&C Technologies’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Needham & Company LLC lifted their target price on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James lifted their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, DA Davidson boosted their price objective on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $97.50.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company’s stock, valued at $2,050,648. The trade was a 49.78 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by insiders.

Institutional Trading of SS&C Technologies

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in SS&C Technologies by 26.4% in the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after buying an additional 6,721 shares during the last quarter. Truist Financial Corp lifted its position in SS&C Technologies by 82.0% in the fourth quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock valued at $1,446,000 after purchasing an additional 8,598 shares during the last quarter. State Street Corp lifted its position in SS&C Technologies by 2.2% in the third quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after purchasing an additional 121,223 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company’s stock valued at $26,924,000 after purchasing an additional 322,781 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in SS&C Technologies by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock valued at $25,034,000 after purchasing an additional 11,077 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

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.