Vestcor Inc Has $926,000 Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Vestcor Inc grew its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 200.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,082 shares of the technology company’s stock after buying an additional 7,394 shares during the period. Vestcor Inc’s holdings in SS&C Technologies were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SSNC. Atwood & Palmer Inc. lifted its position in shares of SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of SS&C Technologies by 634.8% in the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company’s stock valued at $28,000 after buying an additional 292 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of SS&C Technologies in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of SS&C Technologies in the first quarter valued at approximately $29,000. Finally, Colonial Trust Co SC lifted its position in shares of SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock valued at $42,000 after buying an additional 390 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $84.23 on Friday. The stock has a fifty day moving average price of $82.13 and a 200-day moving average price of $81.36. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 26.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.14. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.27 EPS. As a group, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 2nd. SS&C Technologies’s dividend payout ratio is presently 31.35%.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director directly owned 12,476 shares in the company, valued at approximately $997,081.92. This represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SSNC. Morgan Stanley boosted their price target on SS&C Technologies from $75.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. UBS Group boosted their price target on SS&C Technologies from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. DA Davidson boosted their price target on SS&C Technologies from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Needham & Company LLC boosted their price target on SS&C Technologies from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies has an average rating of “Buy” and a consensus price target of $97.13.

SS&C Technologies Company 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.