Allstate Corp Buys Shares of 6,648 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Allstate Corp bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,648 shares of the technology company's stock, valued at approximately $504,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in SS&C Technologies during the 4th quarter worth about $39,000. Parkside Financial Bank & Trust grew its holdings in SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock valued at $40,000 after purchasing an additional 229 shares during the period. Financial Perspectives Inc acquired a new stake in SS&C Technologies in the 4th quarter valued at $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies during the 4th quarter valued at approximately $64,000. Finally, CENTRAL TRUST Co bought a new position in 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.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded down $3.44 during mid-day trading on Thursday, reaching $79.98. 1,447,958 shares of the company's stock were exchanged, compared to its average volume of 1,219,854. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 26.66 and a beta of 1.36. The firm has a 50-day moving average price of $84.38 and a two-hundred day moving average price of $78.46. 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 Holdings, Inc. has a 52 week low of $59.63 and a 52 week high of $89.73.

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SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 1.25%. SS&C Technologies's dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In other SS&C Technologies news, SVP Jason Douglas White sold 71,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the sale, the senior vice president now owns 6,412 shares in the company, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director now directly owns 23,200 shares in the company, valued at $2,050,648. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SSNC has been the subject of a number of recent analyst reports. UBS Group increased their price target on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. DA Davidson increased their target price on SS&C Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Needham & Company LLC upped their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of "Buy" and a consensus target price of $97.50.

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.