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

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a significant decline in short interest in 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 currently 1.3 days. Currently, 0.6% of the company’s shares are sold short.

SS&C Technologies Stock Down 0.1 %

SSNC traded down $0.07 during trading on Friday, hitting $61.24. The company had a trading volume of 1,583,612 shares, compared to its average volume of 961,173. The company has a market cap of $15.14 billion, a PE ratio of 24.40 and a beta of 1.43. The business has a 50-day moving average of $62.78 and a 200-day moving average of $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 has a 1-year low of $46.61 and a 1-year high of $65.86.

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

SS&C Technologies Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. DA Davidson reiterated a “buy” rating and set a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday, April 16th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Finally, UBS Group upped their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.22.

Institutional Trading of SS&C Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Foster Victor Wealth Advisors LLC raised its holdings in shares of SS&C Technologies by 14.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 243,911 shares of the technology company’s stock worth $15,010,000 after purchasing an additional 30,655 shares during the period. Yousif Capital Management LLC increased its holdings in shares of SS&C Technologies by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,477 shares of the technology company’s stock worth $288,000 after acquiring an additional 211 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in shares of SS&C Technologies by 4.1% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 296,844 shares of the technology company’s stock worth $19,108,000 after acquiring an additional 11,822 shares during the period. Inlet Private Wealth LLC increased its holdings in shares of SS&C Technologies by 16.7% in the 1st quarter. Inlet Private Wealth LLC now owns 14,175 shares of the technology company’s stock worth $912,000 after acquiring an additional 2,025 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SS&C Technologies by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,192 shares of the technology company’s stock worth $4,583,000 after acquiring an additional 2,932 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies

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.