Bank of America Corp DE Raises Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bank of America Corp DE raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 64.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,235,142 shares of the technology company’s stock after purchasing an additional 880,058 shares during the quarter. Bank of America Corp DE owned 0.90% of SS&C Technologies worth $169,379,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SSNC. Pallas Capital Advisors LLC increased its stake in SS&C Technologies by 51.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 7,476 shares of the technology company’s stock worth $567,000 after buying an additional 2,548 shares during the period. Benson Investment Management Company Inc. purchased a new stake in shares of SS&C Technologies during the fourth quarter worth $5,578,000. Park Avenue Securities LLC raised its stake in shares of SS&C Technologies by 385.8% in the fourth quarter. Park Avenue Securities LLC now owns 19,382 shares of the technology company’s stock valued at $1,469,000 after acquiring an additional 15,392 shares in the last quarter. Meyer Handelman Co. boosted its holdings in SS&C Technologies by 13.0% in the fourth quarter. Meyer Handelman Co. now owns 74,680 shares of the technology company’s stock valued at $5,659,000 after purchasing an additional 8,588 shares during the period. Finally, Burney Co. grew its stake in SS&C Technologies by 5.6% during the 4th quarter. Burney Co. now owns 197,059 shares of the technology company’s stock worth $14,933,000 after purchasing an additional 10,374 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Trading Down 0.1 %

NASDAQ SSNC opened at $77.61 on Friday. The company’s fifty day simple moving average is $78.87 and its 200-day simple moving average is $78.60. The stock has a market cap of $19.14 billion, a P/E ratio of 25.87 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 52 week low of $60.01 and a 52 week high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

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

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s payout ratio is currently 31.06%.

Insider Activity at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan E. Michael purchased 2,700 shares of SS&C Technologies stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the acquisition, the director now owns 72,776 shares in the company, valued at $5,496,771.28. The trade was a 3.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday. DA Davidson decreased their target price on SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Needham & Company LLC lowered their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies presently has an average rating of “Buy” and a consensus price target of $91.86.

About SS&C Technologies

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.