Wedmont Private Capital Invests $206,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Wedmont Private Capital purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,703 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of the stock. Kestra Investment Management LLC purchased a new stake in shares of SS&C Technologies during the 4th quarter valued at approximately $39,000. Parkside Financial Bank & Trust boosted its position in SS&C Technologies by 76.1% in 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 during the period. Colonial Trust Co SC grew its stake in SS&C Technologies by 239.3% during the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after purchasing an additional 390 shares in the last quarter. True Wealth Design LLC grew its position in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock worth $42,000 after buying an additional 342 shares in the last quarter. Finally, Financial Perspectives Inc purchased a new stake in shares of SS&C Technologies in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Jonathan E. Michael purchased 2,700 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average price of $75.53 per share, with a total value of $203,931.00. Following the purchase, the director now directly owns 72,776 shares of the company’s stock, valued at approximately $5,496,771.28. This represents a 3.85% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the sale, the director now owns 12,476 shares of the company’s stock, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Wall Street Zen raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Needham & Company LLC dropped their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. DA Davidson cut their target price on SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Raymond James reduced their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $91.86.

SS&C Technologies Stock Up 0.4%

Shares of NASDAQ:SSNC opened at $81.60 on Friday. The company has a market capitalization of $20.13 billion, a P/E ratio of 27.20 and a beta of 1.24. The stock’s fifty day simple moving average is $77.97 and its 200-day simple moving average is $79.74. SS&C Technologies Holdings, Inc. has a 52-week low of $60.18 and a 52-week 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.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. SS&C Technologies’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies’s payout ratio is currently 31.06%.

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.