Norges Bank Takes Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Norges Bank acquired 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 filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,711,471 shares of the technology company's stock, valued at approximately $205,475,000. Norges Bank owned about 1.09% of SS&C Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SSNC. Kestra Investment Management LLC purchased a new position in shares of SS&C Technologies during the 4th quarter valued at about $39,000. Parkside Financial Bank & Trust grew 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 acquiring an additional 229 shares during the last quarter. Financial Perspectives Inc purchased a new stake in SS&C Technologies in the 4th quarter valued at about $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies during the fourth quarter worth approximately $64,000. Finally, CENTRAL TRUST Co bought a new stake in shares of SS&C Technologies during the fourth quarter valued at approximately $65,000. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SSNC shares. 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 report on Monday, February 3rd. DA Davidson lifted their price objective on SS&C Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a report on Monday, February 10th. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. UBS Group lifted their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $97.50.

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SS&C Technologies Stock Performance

NASDAQ:SSNC traded down $3.49 during midday trading on Friday, hitting $76.49. The company's stock had a trading volume of 251,021 shares, compared to its average volume of 1,216,229. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $18.85 billion, a P/E ratio of 25.40 and a beta of 1.36. The firm's 50 day moving average is $84.38 and its 200-day moving average is $78.46.

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

SS&C Technologies Dividend Announcement

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 dividend yield of 1.31%. SS&C Technologies's dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling

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 value of $6,316,160.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company's stock, valued at $570,411.52. This trade represents a 91.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the business'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 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 insiders.

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.