Pzena Investment Management LLC purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,036,568 shares of the technology company’s stock, valued at approximately $684,819,000. SS&C Technologies makes up about 2.0% of Pzena Investment Management LLC’s holdings, making the stock its 20th biggest position.
A number of other large investors also recently modified their holdings of SSNC. Havemeyer Place LP acquired a new stake in shares of SS&C Technologies in the fourth quarter valued at about $26,000. EFG International AG acquired a new position in SS&C Technologies during the fourth quarter valued at approximately $29,000. Osterweis Capital Management Inc. bought a new position in SS&C Technologies in the second quarter valued at approximately $40,000. Fifth Third Bancorp grew its stake in SS&C Technologies by 216.4% in the fourth quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock valued at $42,000 after purchasing an additional 329 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of SS&C Technologies by 36.0% during the 4th quarter. Private Trust Co. NA now owns 502 shares of the technology company’s stock worth $44,000 after purchasing an additional 133 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.
SS&C Technologies Price Performance
Shares of SSNC opened at $79.80 on Tuesday. The firm has a market capitalization of $18.73 billion, a PE ratio of 22.93 and a beta of 1.07. The company’s 50-day moving average is $70.71 and its 200-day moving average is $70.74. SS&C Technologies Holdings, Inc. has a fifty-two week low of $61.40 and a fifty-two week high of $91.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06.
SS&C Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.27 per share. The ex-dividend date was Monday, June 1st. This represents a $1.08 annualized dividend and a yield of 1.4%. SS&C Technologies’s dividend payout ratio (DPR) is 31.03%.
Insider Buying and Selling
In other news, Director Jonathan E. Michael sold 2,740 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,307,614.24. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 3,000 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director directly owned 18,404 shares of the company’s stock, valued at approximately $1,227,178.72. The trade was a 14.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,740 shares of company stock valued at $583,576. Corporate insiders own 16.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, July 24th. Jefferies Financial Group lowered their target price on shares of SS&C Technologies from $92.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Wall Street Zen raised shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. DA Davidson reiterated a “buy” rating and issued a $96.00 price target on shares of SS&C Technologies in a research note on Monday, July 27th. Finally, Morgan Stanley decreased their price objective on shares of 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 issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.25.
Check Out Our Latest Analysis on SSNC
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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