Cornerstone Investment Partners LLC Buys New Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornerstone Investment Partners LLC bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 452,283 shares of the technology company’s stock, valued at approximately $25,545,000. SS&C Technologies comprises about 1.8% of Cornerstone Investment Partners LLC’s holdings, making the stock its 27th biggest holding. Cornerstone Investment Partners LLC owned approximately 0.18% of SS&C Technologies as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of SS&C Technologies during the fourth quarter valued at approximately $130,712,000. Evercore Wealth Management LLC bought a new stake in SS&C Technologies during the first quarter valued at $39,588,000. Nuveen Asset Management LLC boosted its stake in SS&C Technologies by 49.8% during the first quarter. Nuveen Asset Management LLC now owns 1,871,479 shares of the technology company’s stock valued at $82,008,000 after buying an additional 622,170 shares during the period. BlackRock Inc. boosted its stake in SS&C Technologies by 4.9% during the first quarter. BlackRock Inc. now owns 12,634,884 shares of the technology company’s stock valued at $553,659,000 after buying an additional 593,770 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in SS&C Technologies by 26.9% during the first quarter. JPMorgan Chase & Co. now owns 2,718,197 shares of the technology company’s stock valued at $119,111,000 after buying an additional 576,423 shares during the period. 81.20% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on SSNC. UBS Group lowered their price target on SS&C Technologies from $72.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. ValuEngine upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on SS&C Technologies from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada restated a “buy” rating and set a $68.00 price target on shares of SS&C Technologies in a report on Thursday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.75.

SSNC traded down $0.15 during mid-day trading on Friday, reaching $57.50. 1,617,477 shares of the company traded hands, compared to its average volume of 1,173,514. The stock has a market capitalization of $14.73 billion, a P/E ratio of 30.10 and a beta of 1.49. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. The company’s fifty day moving average price is $56.68 and its 200-day moving average price is $55.55. SS&C Technologies Holdings, Inc. has a 52-week low of $29.51 and a 52-week high of $66.74.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.90 by $0.14. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. SS&C Technologies’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 3.66 earnings per share for the current fiscal year.

About SS&C Technologies

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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