Bessemer Group Inc. Cuts Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bessemer Group Inc. reduced its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 68.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 13,333 shares of the technology company’s stock after selling 28,325 shares during the quarter. Bessemer Group Inc.’s holdings in SS&C Technologies were worth $1,114,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Unigestion Holding SA lifted its holdings in SS&C Technologies by 861.7% during the first quarter. Unigestion Holding SA now owns 95,341 shares of the technology company’s stock valued at $7,964,000 after purchasing an additional 85,427 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in SS&C Technologies during the first quarter valued at about $509,000. Thompson Siegel & Walmsley LLC lifted its holdings in shares of SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company’s stock worth $26,924,000 after buying an additional 322,781 shares in the last quarter. Boston Partners lifted its holdings in shares of SS&C Technologies by 283.1% in the fourth quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after buying an additional 3,901,227 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of SS&C Technologies by 11.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 163,063 shares of the technology company’s stock worth $12,401,000 after buying an additional 16,987 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of recent analyst reports. Raymond James Financial lowered their price target on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Needham & Company LLC lowered their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, April 25th. DA Davidson lowered their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Stock Up 1.2%

SSNC stock opened at $82.80 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $79.16 and its 200 day moving average is $80.10. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 25.71 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 1-year low of $61.13 and a 1-year high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.03. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. SS&C Technologies’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 business earned $1.28 earnings per share. Sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies’s payout ratio is currently 31.06%.

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.