SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Significant Decrease in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 1,240,000 shares, a decrease of 23.0% from the March 31st total of 1,610,000 shares. Based on an average daily trading volume, of 967,800 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group upped their target price on SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Citigroup upped their target price on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Needham & Company LLC upped their target price on SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Truist Financial upped their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. Finally, TheStreet raised SS&C Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.20.

Institutional Investors Weigh In On SS&C Technologies

Large investors have recently bought and sold shares of the stock. ST Germain D J Co. Inc. purchased a new stake in SS&C Technologies during the 1st quarter worth about $27,000. Headinvest LLC purchased a new position in shares of SS&C Technologies in the 3rd quarter valued at about $26,000. Operose Advisors LLC purchased a new position in shares of SS&C Technologies in the 3rd quarter valued at about $34,000. Denali Advisors LLC purchased a new position in shares of SS&C Technologies in the 1st quarter valued at about $51,000. Finally, Principal Securities Inc. purchased a new position in shares of SS&C Technologies in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Down 0.0 %

SSNC traded down $0.03 during mid-day trading on Tuesday, hitting $61.89. 1,186,755 shares of the stock were exchanged, compared to its average volume of 973,403. The firm’s fifty day moving average is $62.75 and its two-hundred day moving average is $59.31. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $65.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market cap of $15.30 billion, a PE ratio of 24.66 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, hitting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. Equities analysts forecast that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 1.55%. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

SS&C Technologies Company Profile

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