Raymond James Financial Inc. Makes New Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James Financial Inc. bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 648,968 shares of the technology company's stock, valued at approximately $49,179,000. Raymond James Financial Inc. owned about 0.26% of SS&C Technologies as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of SS&C Technologies in the fourth quarter valued at $39,000. Parkside Financial Bank & Trust increased its holdings in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after purchasing an additional 229 shares during the period. Financial Perspectives Inc purchased a new position in shares of SS&C Technologies during the fourth quarter worth about $51,000. Rialto Wealth Management LLC bought a new stake in shares of SS&C Technologies during the 4th quarter worth $64,000. Finally, CENTRAL TRUST Co bought a new position in shares of SS&C Technologies during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Price Performance

NASDAQ SSNC traded up $0.25 on Friday, reaching $76.33. The company had a trading volume of 1,040,814 shares, compared to its average volume of 1,249,765. The firm's 50 day moving average price is $82.60 and its 200 day moving average price is $78.56. SS&C Technologies Holdings, Inc. has a 12 month low of $60.01 and a 12 month high of $89.73. The stock has a market capitalization of $18.81 billion, a PE ratio of 25.44 and a beta of 1.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating 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%. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 1.31%. SS&C Technologies's dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

SSNC has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. UBS Group raised their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. DA Davidson reduced their price objective on shares of SS&C Technologies from $102.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Needham & Company LLC lifted 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. Finally, Raymond James raised their price target on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a "strong-buy" rating in a report on Friday, February 7th. Five investment 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.com, SS&C Technologies has a consensus rating of "Buy" and an average target price of $97.17.

Insider Buying and Selling

In other news, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the sale, the director now directly owns 23,200 shares in the company, valued at $2,050,648. This represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company 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.