Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 182.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,800 shares of the technology company’s stock after purchasing an additional 131,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SS&C Technologies were worth $13,703,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in SSNC. Havemeyer Place LP purchased a new stake in shares of SS&C Technologies during the 4th quarter worth approximately $26,000. EFG International AG acquired a new position in shares of SS&C Technologies in the 4th quarter valued at $29,000. V Square Quantitative Management LLC purchased a new position in shares of SS&C Technologies in the 4th quarter valued at $37,000. Osterweis Capital Management Inc. purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $40,000. Finally, Fifth Third Bancorp raised its stake in SS&C Technologies by 216.4% during the 4th quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock worth $42,000 after acquiring an additional 329 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.
SS&C Technologies Price Performance
SS&C Technologies stock opened at $66.79 on Wednesday. SS&C Technologies Holdings, Inc. has a 12 month low of $61.40 and a 12 month high of $91.07. The stock has a market capitalization of $16.09 billion, a PE ratio of 20.68 and a beta of 1.11. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $66.62 and a 200-day simple moving average of $72.59.
SS&C Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.27 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.6%. SS&C Technologies’s payout ratio is 33.44%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on SSNC. Jefferies Financial Group reduced their price target on shares of SS&C Technologies from $105.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Wall Street Zen raised SS&C Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Needham & Company LLC cut their target price on SS&C Technologies from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. DA Davidson reissued a “buy” rating and issued a $96.00 target price on shares of SS&C Technologies in a report on Monday, April 27th. Finally, Morgan Stanley decreased their target price on SS&C Technologies from $86.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.12.
View Our Latest Analysis on SSNC
Insider Buying and Selling
In related news, Director Jonathan E. Michael sold 2,740 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $66.86, for a total transaction of $183,196.40. Following the transaction, the director owned 79,384 shares of the company’s stock, valued at $5,307,614.24. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 3,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $66.68, for a total value of $200,040.00. Following the completion of the transaction, the director owned 18,404 shares of the company’s stock, valued at $1,227,178.72. The trade was a 14.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,740 shares of company stock worth $583,576. Company insiders own 16.00% of the company’s stock.
SS&C Technologies Profile
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
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