Sumitomo Mitsui Trust Holdings Inc. Sells 3,933 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCFree Report) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 516,024 shares of the technology company’s stock after selling 3,933 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of SS&C Technologies worth $33,216,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. bought a new stake in shares of SS&C Technologies in the first quarter worth approximately $27,000. Headinvest LLC bought a new position in shares of SS&C Technologies during the 3rd quarter valued at $26,000. Principal Securities Inc. purchased a new position in shares of SS&C Technologies in the 4th quarter worth $53,000. Fortis Group Advisors LLC bought a new stake in shares of SS&C Technologies in the third quarter worth $53,000. Finally, Tobam increased its position in SS&C Technologies by 1,428.8% during the fourth quarter. Tobam now owns 1,009 shares of the technology company’s stock valued at $62,000 after acquiring an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.94, for a total value of $639,400.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at $2,429,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 32,500 shares of company stock worth $2,027,750 in the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SSNC. Jefferies Financial Group raised their target price on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Needham & Company LLC boosted their target price on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, DA Davidson reiterated a “buy” rating and issued a $78.00 price target on shares of SS&C Technologies in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Get Our Latest Stock Analysis on SS&C Technologies

SS&C Technologies Trading Down 0.9 %

Shares of SS&C Technologies stock opened at $62.21 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The company has a fifty day moving average of $62.24 and a 200 day moving average of $62.03. The company has a market capitalization of $15.39 billion, a P/E ratio of 24.78 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $65.86.

SS&C Technologies (NASDAQ:SSNCGet Free Report) last released its earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.03. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 1.54%. SS&C Technologies’s payout ratio is 38.25%.

SS&C Technologies Company Profile

(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.

See Also

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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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