Ritholtz Wealth Management has significantly increased its investment in SS&C Technologies Holdings, Inc. by raising its stake in the company by **77.1%** during the second quarter of 2023. According to a recent disclosure filed with the **Securities and Exchange Commission (SEC)**, Ritholtz now holds **10,782 shares** of SS&C Technologies, having acquired an additional **4,693 shares** during this period. The total value of Ritholtz’s holdings in the technology firm stands at approximately **$893,000**.
Other institutional investors have also adjusted their positions in SS&C Technologies. **J.Safra Asset Management Corp** increased its stake by **10.3%**, now owning **3,620 shares** valued at **$296,000** after acquiring **337 shares** last quarter. **Bayforest Capital Ltd** grew its holdings by **26.6%**, bringing its total to **1,237 shares** worth **$102,000** after purchasing **260 shares**.
Moreover, **Wilmington Savings Fund Society FSB** raised its holdings by **1.6%** to **32,849 shares**, a position valued at **$2.72 million** following the acquisition of **511 shares**. **Verdence Capital Advisors LLC** expanded its stake by **10.4%**, owning **88,674 shares** valued at **$7.34 million** after purchasing an additional **8,370 shares**. Lastly, **Sequoia Financial Advisors LLC** increased its position by a notable **193.2%**, now holding **9,356 shares** valued at **$775,000** after acquiring **6,165 shares**.
Currently, **96.90%** of SS&C Technologies’ stock is owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.
Stock Performance and Dividend Announcement
On September 15, 2023, SS&C Technologies saw its stock open at **$79.68**, reflecting a **0.2% increase**. The company has a market capitalization of **$19.46 billion**, a **price-to-earnings (P/E) ratio** of **24.98**, and a beta of **1.23**. The stock has fluctuated between a **52-week low of $66.83** and a **high of $91.07**. As of now, the company maintains a quick ratio and current ratio of **1.14**, and a debt-to-equity ratio of **0.97**.
In a positive development for shareholders, SS&C Technologies announced a quarterly dividend of **$1.08** per share, which was distributed on **September 15, 2023**. This represents an annualized dividend of **$4.32** and a yield of **5.4%**, a significant increase from its previous dividend of **$0.25**. The ex-dividend date was set for **September 2, 2023**, and the company’s dividend payout ratio (DPR) currently stands at **33.86%**.
Analyst Ratings and Future Outlook
Recent reports from various analysts indicate a bullish outlook for SS&C Technologies. **Raymond James Financial** raised its price target from **$95.00** to **$101.00**, assigning a “strong-buy” rating. Similarly, **DA Davidson** updated its price target from **$98.00** to **$102.00** with a “buy” rating.
**UBS Group** has set an updated target of **$110.00**, maintaining a “buy” rating, while **JPMorgan Chase & Co.** raised its target from **$86.00** to **$94.00**, offering a “neutral” rating. **Morgan Stanley** also adjusted its price target from **$75.00** to **$88.00**, classifying the stock as “equal weight.” Presently, one analyst has rated SS&C Technologies as a “strong buy,” six have issued a “buy” rating, and two analysts assigned a “hold” rating. According to MarketBeat.com, the stock currently holds a consensus rating of “moderate buy” with an average price target of **$98.13**.
SS&C Technologies Holdings, Inc. specializes in developing software solutions for the financial services and healthcare industries. The company operates across various geographical segments, including the **United States**, **Europe**, **Middle East and Africa**, **Asia Pacific and Japan**, and **Canada**.
As institutional interest continues to rise and analysts project positive growth, SS&C Technologies appears well-positioned for potential future success.
