Cornerstone Investment Partners LLC Reduces Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornerstone Investment Partners LLC decreased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 947,475 shares of the technology company's stock after selling 2,900 shares during the quarter. SS&C Technologies accounts for about 3.6% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 10th largest holding. Cornerstone Investment Partners LLC owned approximately 0.38% of SS&C Technologies worth $71,800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SSNC. International Assets Investment Management LLC grew its position in shares of SS&C Technologies by 7,320.0% during the third quarter. International Assets Investment Management LLC now owns 2,226 shares of the technology company's stock worth $165,000 after buying an additional 2,196 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in SS&C Technologies by 95.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,353 shares of the technology company's stock worth $917,000 after acquiring an additional 6,027 shares in the last quarter. abrdn plc increased its position in shares of SS&C Technologies by 39.0% in the 3rd quarter. abrdn plc now owns 43,183 shares of the technology company's stock worth $3,205,000 after purchasing an additional 12,119 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of SS&C Technologies in the 3rd quarter valued at about $202,000. Finally, US Bancorp DE lifted its position in shares of SS&C Technologies by 1.9% during the third quarter. US Bancorp DE now owns 17,160 shares of the technology company's stock worth $1,273,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

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Insider Buying and Selling

In other SS&C Technologies news, CEO William C. Stone sold 132,700 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at approximately $2,446,744,613.10. The trade was a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm's stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,700 shares of company stock valued at $18,547,125 in the last three months. 15.40% of the stock is currently owned by corporate insiders.

SS&C Technologies Stock Performance

SSNC traded up $1.29 during trading on Friday, reaching $85.86. 2,526,947 shares of the company were exchanged, compared to its average volume of 1,464,222. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $21.27 billion, a P/E ratio of 28.62 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 52 week low of $59.63 and a 52 week high of $89.73. The firm has a 50 day moving average of $82.18 and a 200 day moving average of $77.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. SS&C Technologies's dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several brokerages recently weighed in on SSNC. StockNews.com raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Needham & Company LLC boosted their price target on SS&C Technologies from $90.00 to $105.00 and gave the company a "buy" rating in a report on Friday, February 7th. Raymond James raised their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 7th. UBS Group boosted 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. Finally, DA Davidson increased their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, SS&C Technologies has an average rating of "Buy" and an average price target of $97.50.

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.