Geode Capital Management LLC Sells 79,103 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Geode Capital Management LLC decreased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,541,919 shares of the technology company's stock after selling 79,103 shares during the period. Geode Capital Management LLC owned about 1.43% of SS&C Technologies worth $267,893,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in SS&C Technologies during the fourth quarter valued at about $39,000. Parkside Financial Bank & Trust raised its holdings in shares of SS&C Technologies by 76.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock valued at $40,000 after buying an additional 229 shares in the last quarter. Financial Perspectives Inc bought a new stake in SS&C Technologies in the 4th quarter worth approximately $51,000. Rialto Wealth Management LLC purchased a new stake in SS&C Technologies in the fourth quarter worth approximately $64,000. Finally, CENTRAL TRUST Co bought a new position in SS&C Technologies during the fourth quarter valued at approximately $65,000. 96.95% of the stock is owned by institutional investors.

Insider Activity

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 value of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $570,411.52. The trade was a 91.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of brokerages have recently weighed in on SSNC. Jefferies Financial Group upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. DA Davidson upped their price target on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, February 10th. StockNews.com raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Raymond James boosted their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a "strong-buy" rating in a research note on Friday, February 7th. Finally, Needham & Company LLC raised their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $97.50.

SS&C Technologies Stock Down 4.0 %

Shares of SSNC stock traded down $3.09 during trading hours on Thursday, hitting $74.77. 294,224 shares of the company's stock traded hands, compared to its average volume of 1,235,059. SS&C Technologies Holdings, Inc. has a 12-month low of $59.63 and a 12-month high of $89.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 24.94 and a beta of 1.31. The stock's fifty day simple moving average is $83.66 and its two-hundred day simple moving average is $78.42.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 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, analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.34%. SS&C Technologies's dividend payout ratio is presently 33.33%.

SS&C Technologies 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.