The Vanguard Group, Inc. recently announced the acquisition of new stake in SS&C Technologies Holdings Inc. (NASDAQ:SSNC). The institutional investor has increased its shareholding in the Technology company by 0.09% to 20.54 million shares with purchase of 19013.0 shares. This fresh investment now brings its stake to 8.19% valued currently at $1.2 billion. In addition, Janus Henderson Investors US LLC raised its holdings by 71068.0 to 14.95 million shares. And Pzena Investment Management LLC has lifted its position by 10.66% or 1.35 million shares – to 13.98 million shares.
With over 1.28 million SS&C Technologies Holdings Inc. (SSNC) shares trading Tuesday and a closing price of $56.22 on the day, the dollar volume was approximately $71.8 million. The shares have shown a positive half year performance of 7.66% and its price on 05/23/23 gained nearly 0.18%. Currently, there are 250.40M common shares owned by the public and among those 219.75M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for SSNC have a consensus price objective of $67.86. The analysts have set the share’s price value over the next 12 months at a high of $83.00 and a low of $55.00. The average price target is 16.18% above its recent price level and a downside to the estimated low will see the stock lose -2.22% over that period. But an upside of 32.27% will see the stock hit the forecast high price target while median target price for the stock is $69.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 614,925 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 200,000 shares.
The top 3 mutual fund holders in SS&C Technologies Holdings Inc. are Janus Henderson Enterprise Fund, Vanguard Total Stock Market ETF, and BlackRock Equity Dividend Fund. Janus Henderson Enterprise Fund owns 8.68 million shares of the company’s stock, all valued at over $507.9 million. Vanguard Total Stock Market ETF bought 40910.0 shares to see its total holdings expand to 6.63 million shares valued at over $387.97 million and representing 2.64% of the shares outstanding. BlackRock Equity Dividend Fund sold -0.14 million shares to bring its total holdings to over 5.67 million shares at a value of $332.04 million. BlackRock Equity Dividend Fund now owns shares totaling to 2.26% of the shares outstanding.
Shares of SS&C Technologies Holdings Inc. (NASDAQ: SSNC) opened at $55.95, down -$0.17 from a prior closing price of $56.12. However, the script later moved the day high at 56.61, up 0.18%. The company’s stock has a 5-day price change of 2.89% and -6.14% over the past three months. SSNC shares are trading 7.99% year to date (YTD), with the 12-month market performance down to -9.41% lower. It has a 12-month low price of $45.25 and touched a high of $65.92 over the same period. SSNC has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.99%, 0.83%, and 2.38% respectively.
Institutional ownership of SS&C Technologies Holdings Inc. (NASDAQ: SSNC) shares accounts for 86.00% of the company’s 250.40M shares outstanding. Mutual fund holders own 36.51%, while other institutional holders and individual stakeholders account for 48.86% and 25.04% respectively.
It has a market capitalization of $13.91B and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 24.13, while the earnings-per-share (ttm) stands at $2.33. The company has a PEG of 3.07 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 1.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.63% over the week and 2.01% over the month.
Analysts forecast that SS&C Technologies Holdings Inc. (SSNC) will achieve an EPS of $1.12 for the current quarter, $1.24 for the next quarter and $5.39 for 2024. The lowest estimate earnings-per-share for the quarter is $1.11 while analysts give the company a high EPS estimate of $1.14. Comparatively, EPS for the current quarter was $1.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.10%, and 12.77% over the next financial year. EPS should shrink at an annualized rate of 7.87% over the next five years, compared to 16.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate SS&C Technologies Holdings Inc. (SSNC) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
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