Sterling Capital Management LLC Sells 92,000 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sterling Capital Management LLC lowered its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,772 shares of the technology company's stock after selling 92,000 shares during the period. Sterling Capital Management LLC's holdings in SS&C Technologies were worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in SS&C Technologies during the fourth quarter worth $39,000. Parkside Financial Bank & Trust grew its position 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 valued at $40,000 after purchasing an additional 229 shares during the last quarter. Financial Perspectives Inc bought a new stake in SS&C Technologies in the 4th quarter valued at $51,000. Rialto Wealth Management LLC bought a new position in SS&C Technologies during the 4th quarter worth $64,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of SS&C Technologies during the fourth quarter worth $65,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SS&C Technologies

In related news, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction 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. The trade was a 91.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 23,200 shares in the company, valued at $2,050,648. The trade was a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. DA Davidson reduced their target price on SS&C Technologies from $102.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, April 11th. 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 research note on Friday, February 7th. Royal Bank of Canada boosted 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. Finally, StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $97.17.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded up $0.56 during midday trading on Thursday, hitting $76.64. The company's stock had a trading volume of 395,751 shares, compared to its average volume of 1,485,465. 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 firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 25.53 and a beta of 1.31. SS&C Technologies Holdings, Inc. has a one year low of $60.01 and a one year high of $89.73. The stock has a fifty day moving average price of $83.02 and a 200 day moving average price of $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 earnings per share for the quarter, topping 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%. On average, research 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 yield of 1.30%. SS&C Technologies's payout ratio is 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.