Assetmark Inc. Purchases 10,324 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Assetmark Inc. lifted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,722 shares of the technology company's stock after purchasing an additional 10,324 shares during the period. Assetmark Inc.'s holdings in SS&C Technologies were worth $4,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SSNC. Toronto Dominion Bank grew its position in shares of SS&C Technologies by 26.4% during the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company's stock worth $2,385,000 after purchasing an additional 6,721 shares in the last quarter. Truist Financial Corp boosted its stake in shares of SS&C Technologies by 82.0% in the fourth quarter. Truist Financial Corp now owns 19,078 shares of the technology company's stock valued at $1,446,000 after buying an additional 8,598 shares during the period. State Street Corp grew its position in SS&C Technologies by 2.2% during the third quarter. State Street Corp now owns 5,624,174 shares of the technology company's stock worth $417,370,000 after buying an additional 121,223 shares in the last quarter. ZWJ Investment Counsel Inc. increased its stake in SS&C Technologies by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company's stock worth $25,034,000 after acquiring an additional 11,077 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new position in SS&C Technologies in the 4th quarter valued at $5,578,000. 96.95% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $570,411.52. This represents a 91.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was 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 disclosure for this sale can be found here. Insiders own 15.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. 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. UBS Group increased their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Raymond James boosted their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a "strong-buy" rating in a research report on Friday, February 7th. Needham & Company LLC upped their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of "Buy" and an average price target of $97.50.

SS&C Technologies Price Performance

Shares of SSNC traded down $0.01 during mid-day trading on Wednesday, reaching $81.51. The company had a trading volume of 1,225,896 shares, compared to its average volume of 1,496,416. The company's 50 day simple moving average is $82.63 and its 200 day simple moving average is $77.51. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 27.17 and a beta of 1.36. SS&C Technologies Holdings, Inc. has a 1-year low of $59.63 and a 1-year high of $89.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

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

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 1.23%. SS&C Technologies's dividend payout ratio is presently 33.33%.

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.