Ritholtz Wealth Management Invests $509,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Ritholtz Wealth Management acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,089 shares of the technology company’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds have also made changes to their positions in SSNC. Boston Partners lifted its position in SS&C Technologies by 283.1% during the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after acquiring an additional 3,901,227 shares during the period. Norges Bank acquired a new stake in SS&C Technologies during the 4th quarter worth approximately $205,475,000. Bank of America Corp DE lifted its position in SS&C Technologies by 64.9% during the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock worth $169,379,000 after acquiring an additional 880,058 shares during the period. Senator Investment Group LP lifted its position in SS&C Technologies by 133.7% during the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock worth $115,123,000 after acquiring an additional 869,175 shares during the period. Finally, AQR Capital Management LLC lifted its position in SS&C Technologies by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock worth $172,038,000 after acquiring an additional 780,616 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Down 0.4%

NASDAQ:SSNC opened at $79.48 on Friday. The firm has a market capitalization of $19.60 billion, a PE ratio of 24.68 and a beta of 1.24. The stock has a 50 day moving average of $78.45 and a 200-day moving average of $79.83. SS&C Technologies Holdings, Inc. has a 52 week low of $61.13 and a 52 week high of $89.73. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, June 2nd. SS&C Technologies’s dividend payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SSNC. 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. Wall Street Zen raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Raymond James Financial dropped their price objective on 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. Needham & Company LLC dropped their price objective on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $91.86.

Insider Activity

In related news, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the purchase, the director now owns 72,776 shares in the company, valued at approximately $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the sale, the director now directly owns 12,476 shares of the company’s stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

About SS&C Technologies

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.