10 Best Affordable Tech Stocks To Invest In Now

5. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Forward P/E Ratio: 14.92

Earnings Growth This Year: 12.11%

Number of Hedge Fund Holders: 57

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is a company that provides software and services primarily for the financial services and healthcare industries. Within the financial services industry, the company helps financial institutions automate their business operations. This means they provide tools that make tasks like trading, portfolio management, and compliance easier and faster. On the other hand, its Healthcare solutions include managing pharmacy benefits, optimizing health outcomes, and claims processing and benefits management.

On October 7, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) unveiled innovative solutions at the Deliver 2024 Conference. The company introduced significant enhancements aimed at streamlining investor onboarding and improving fund administration processes. The launch of Battea Class Action Services marked a notable advancement in securities claims management, while the DomaniRx platform was unveiled to assist healthcare payers in navigating regulatory challenges and optimizing data management. Moreover, the company also presented the DealCentre AI™ platform as a tool for simplifying deal management, integrating advanced AI capabilities to enhance user experience. Additionally, the SS&C Blue Prism Enterprise AI portfolio combines generative AI with enterprise automation, further solidifying the company’s role in leveraging intelligent automation for operational improvements.

Financially speaking the company posted significant improvement in the third quarter of fiscal 2024, mainly due to strong performance in Global Investor and Distribution Solutions (GIDS) and Wealth and Investment Technologies (WIT) sectors. Moreover, it also experienced accelerated license revenue in the Wealth and Investment Technologies division. Overall, the adjusted revenue came in at $1.47 billion indicating a 7.3% increase year-over-year. It is one of the best affordable tech stocks to invest in now.

Ave Maria Rising Dividend Fund stated the following regarding SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in its Q3 2024 investor letter:

“In the third quarter, the Fund liquidated its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC), a provider of application software for financial services. The company specializes in software solutions that facilitate trading, modeling, portfolio management, reporting, and various back-office functions. The decision to sell this holding was based on the assessment that its market value had surpassed our best estimate of the company’s fair value.”