Short Interest in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Decreases By 23.0%

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,240,000 shares, a decline 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 presently 1.3 days. Currently, 0.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently modified their holdings of SSNC. Headinvest LLC acquired a new position in shares of SS&C Technologies in the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. acquired a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $27,000. Operose Advisors LLC acquired a new position in shares of SS&C Technologies in the 3rd quarter valued at approximately $34,000. Denali Advisors LLC bought a new stake in SS&C Technologies in the 1st quarter valued at approximately $51,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in SS&C Technologies in the 3rd quarter valued at approximately $53,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Trading Down 0.1 %

Shares of SS&C Technologies stock traded down $0.07 during trading on Friday, hitting $61.24. 1,583,612 shares of the company were exchanged, compared to its average volume of 961,173. The firm has a market capitalization of $15.14 billion, a P/E ratio of 24.40 and a beta of 1.43. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $65.86. The firm’s fifty day moving average price is $62.78 and its 200 day moving average price is $59.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.13. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. As a group, sell-side analysts expect that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio is presently 38.25%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial lifted their price target on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. UBS Group lifted their price target 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 lifted their price target on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $71.22.

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.