Pinebridge Investments L.P. Reduces Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pinebridge Investments L.P. lessened its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 80.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,197 shares of the technology company’s stock after selling 20,941 shares during the quarter. Pinebridge Investments L.P.’s holdings in SS&C Technologies were worth $394,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in SSNC. Kestra Investment Management LLC purchased a new stake in shares of SS&C Technologies in the fourth quarter worth about $39,000. Parkside Financial Bank & Trust boosted its stake in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after buying an additional 229 shares during the last quarter. Financial Perspectives Inc purchased a new stake in shares of SS&C Technologies in the fourth quarter worth about $51,000. Rialto Wealth Management LLC purchased a new stake in shares of SS&C Technologies in the fourth quarter worth about $64,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of SS&C Technologies in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC lowered their target price on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group upped their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson reduced their price target on SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a report on Monday. Finally, Royal Bank of Canada upped their price target on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $91.86.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $73.38 on Tuesday. The business has a 50 day simple moving average of $80.93 and a two-hundred day simple moving average of $78.59. SS&C Technologies Holdings, Inc. has a 12 month low of $60.01 and a 12 month high of $89.73. The stock has a market capitalization of $18.08 billion, a P/E ratio of 24.46 and a beta of 1.31. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. SS&C Technologies’s payout ratio is currently 31.06%.

Insider Activity at SS&C Technologies

In related news, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total value of $2,032,970.00. Following the sale, the director now directly owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.