GHP Investment Advisors Inc. has increased its position in shares of SS&C Technologies Holdings, Inc. by 2.1% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 141,931 shares of the technology company, valued at approximately $11.75 million following the acquisition of an additional 2,974 shares.
This adjustment in holdings reflects a broader trend, as several institutional investors have also modified their stakes in SS&C Technologies. For instance, Kestra Private Wealth Services LLC boosted its holdings by 29.9% during the first quarter, owning 16,050 shares worth about $1.34 million after acquiring an extra 3,698 shares. Similarly, Bank of New York Mellon Corp increased its holdings by 6.8%, now owning 1,191,017 shares valued at approximately $99.49 million after purchasing 75,807 shares.
Investment activity continued with Envestnet Asset Management Inc., which raised its stake by 31.7%, resulting in ownership of 736,523 shares worth $61.52 million. Northern Trust Corp also increased its holdings by 1.5%, now owning 1,447,556 shares valued at around $120.91 million. Additionally, Eaton Financial Holdings Company LLC acquired a new stake in SS&C Technologies worth approximately $2.83 million during the same period. Institutional investors collectively own about 96.90% of the company’s stock.
Analyst Ratings and Stock Performance
The stock of SS&C Technologies has attracted attention from various analysts. In a report dated October 24, Morgan Stanley raised its target price for SS&C shares from $88.00 to $92.00, maintaining an “equal weight” rating. Weiss Ratings reiterated a “buy (b)” rating on October 8. Furthermore, UBS Group increased its price objective from $110.00 to $112.00 while giving a “buy” rating.
Additionally, Royal Bank of Canada raised its price target from $97.00 to $99.00 with an “outperform” rating, and Needham & Company LLC increased its target from $100.00 to $105.00, also assigning a “buy” rating. Currently, one analyst rates the stock as a Strong Buy, six have assigned a Buy rating, and two have issued a Hold rating. According to data from MarketBeat.com, SS&C Technologies holds an average rating of “Moderate Buy” with a target price of $101.75.
Dividend Announcement and Company Profile
On September 15, SS&C Technologies announced a quarterly dividend of $1.08 per share, which was paid to stockholders of record as of September 2. This marks an annualized dividend of $4.32 and a yield of 5.1%, reflecting an increase from the previous quarterly dividend of $0.25. The company’s dividend payout ratio stands at 32.05%.
SS&C Technologies Holdings, Inc. specializes in developing and providing software solutions for the financial services and healthcare sectors. The company operates across various regions, including the United States, Europe, the Middle East and Africa, Asia Pacific, Japan, Canada, and other Americas excluding the United States and Canada.
For those interested in the latest hedge fund activity surrounding SS&C Technologies, detailed reports and filings can be accessed through various financial news platforms, ensuring investors remain informed about this evolving landscape.
