Meyer Handelman Co. lifted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,680 shares of the technology company's stock after buying an additional 8,588 shares during the period. Meyer Handelman Co.'s holdings in SS&C Technologies were worth $5,659,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in SS&C Technologies in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after purchasing an additional 204 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of SS&C Technologies in the third quarter valued at about $68,000. Versant Capital Management Inc grew its holdings in shares of SS&C Technologies by 32.5% during the fourth quarter. Versant Capital Management Inc now owns 949 shares of the technology company's stock worth $72,000 after buying an additional 233 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of SS&C Technologies during the third quarter worth about $73,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.
SS&C Technologies Price Performance
Shares of SSNC stock traded up $1.32 during midday trading on Wednesday, reaching $78.44. 1,360,130 shares of the company traded hands, compared to its average volume of 1,119,340. The firm has a market cap of $19.43 billion, a PE ratio of 28.11 and a beta of 1.37. 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's 50 day simple moving average is $75.73 and its two-hundred day simple moving average is $73.07. SS&C Technologies Holdings, Inc. has a 1-year low of $59.18 and a 1-year high of $78.55.
SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.04 earnings per share. SS&C Technologies's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.
SS&C Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies's payout ratio is currently 35.84%.
Wall Street Analyst Weigh In
SSNC has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James increased their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a report on Friday, October 25th. DA Davidson reissued a "buy" rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com downgraded shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.75.
View Our Latest Research Report on SSNC
Insider Activity
In related news, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 449,000 shares of company stock worth $34,461,478 over the last ninety days. 15.40% of the stock is currently owned by insiders.
About SS&C Technologies
(
Free Report)
SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.
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