Palisade Capital Management LLC NJ Purchases 5,693 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Palisade Capital Management LLC NJ grew its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 10.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,746 shares of the technology company’s stock after buying an additional 5,693 shares during the period. Palisade Capital Management LLC NJ’s holdings in SS&C Technologies were worth $4,305,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Company LLC bought a new stake in shares of SS&C Technologies in the 1st quarter valued at about $25,000. PNC Managed Account Solutions Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at about $30,000. First National Bank of South Miami purchased a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $35,000. Barrett Asset Management LLC purchased a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $35,000. Finally, Van ECK Associates Corp raised its position in shares of SS&C Technologies by 193.4% in the 2nd quarter. Van ECK Associates Corp now owns 581 shares of the technology company’s stock valued at $42,000 after purchasing an additional 383 shares during the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.

In other news, CEO William C. Stone sold 280,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 21st. The shares were sold at an average price of $68.85, for a total transaction of $19,278,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.60% of the stock is owned by company insiders.

Several equities analysts recently commented on SSNC shares. Zacks Investment Research lowered shares of SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Raymond James increased their price objective on shares of SS&C Technologies from $93.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 29th. Truist Securities increased their price objective on shares of SS&C Technologies from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, August 2nd. Morgan Stanley increased their price objective on shares of SS&C Technologies from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Finally, Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $83.69.

Shares of NASDAQ SSNC opened at $70.82 on Friday. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 26.23 and a beta of 1.55. SS&C Technologies Holdings, Inc. has a 12 month low of $58.40 and a 12 month high of $79.71. The firm’s 50 day simple moving average is $74.62 and its 200-day simple moving average is $73.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.05 and a quick ratio of 1.05.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Wednesday, July 28th. The technology company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.17. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. SS&C Technologies had a net margin of 14.87% and a return on equity of 20.63%. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.90%. SS&C Technologies’s payout ratio is 15.84%.

About SS&C Technologies

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.

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

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