Korea Investment CORP Sells 32,060 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Korea Investment CORP lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,054 shares of the technology company's stock after selling 32,060 shares during the quarter. Korea Investment CORP owned 0.10% of SS&C Technologies worth $19,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in SS&C Technologies during the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its position in SS&C Technologies by 76.1% in the 4th 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 last quarter. Financial Perspectives Inc bought a new stake in shares of SS&C Technologies during the fourth quarter valued at approximately $51,000. Rialto Wealth Management LLC acquired a new position in SS&C Technologies during the 4th quarter worth $64,000. Finally, CENTRAL TRUST Co bought a new position in SS&C Technologies in the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 96.95% of the company's stock.

Analysts Set New Price Targets

SSNC has been the topic of several research analyst reports. DA Davidson lifted their price target on SS&C Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, February 10th. UBS Group upped their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Needham & Company LLC increased their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $97.50.

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SS&C Technologies Trading Down 4.6 %

Shares of NASDAQ:SSNC traded down $3.82 during mid-day trading on Thursday, reaching $79.60. The stock had a trading volume of 338,499 shares, compared to its average volume of 1,215,626. The firm has a 50 day simple moving average of $84.38 and a two-hundred day simple moving average of $78.45. The firm has a market cap of $19.62 billion, a PE ratio of 26.53 and a beta of 1.36. SS&C Technologies Holdings, Inc. has a twelve month low of $59.63 and a twelve month high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

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

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 1.26%. SS&C Technologies's dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 23,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $2,050,648. This represents a 49.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction dated 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 transaction, the senior vice president now owns 6,412 shares of the company's stock, valued at $570,411.52. The trade was a 91.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.40% of the company's stock.

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.