M&T Bank Corp Sells 2,044 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

M&T Bank Corp lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 23.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,494 shares of the technology company’s stock after selling 2,044 shares during the quarter. M&T Bank Corp’s holdings in SS&C Technologies were worth $542,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Atwood & Palmer Inc. raised its position in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock worth $25,000 after purchasing an additional 166 shares during the period. True Wealth Design LLC raised 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 purchasing an additional 342 shares during the period. Colonial Trust Co SC raised its position in shares of SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after purchasing an additional 390 shares during the period. Wayfinding Financial LLC acquired a new position in shares of SS&C Technologies during the first quarter worth approximately $69,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of SS&C Technologies by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company’s stock worth $67,000 after purchasing an additional 123 shares during the period. Institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Raymond James Financial lowered their price target on SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating for the company in a research report on Friday, April 25th. Wall Street Zen raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Needham & Company LLC lowered their price target on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, DA Davidson increased their price target on SS&C Technologies from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $92.43.

SS&C Technologies Trading Down 2.0%

Shares of SS&C Technologies stock opened at $81.85 on Wednesday. SS&C Technologies Holdings, Inc. has a 1 year low of $66.46 and a 1 year high of $89.73. The firm has a market cap of $20.19 billion, a PE ratio of 25.42 and a beta of 1.23. The stock has a fifty day moving average price of $80.75 and a 200-day moving average price of $80.63. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.11 and a quick ratio of 1.11.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 EPS. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. SS&C Technologies’s payout ratio is 31.06%.

Insider Buying and Selling at SS&C Technologies

In related news, Director Jonathan E. Michael bought 2,700 shares of the business’s stock in a transaction 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 purchase, the director directly owned 72,776 shares in the company, valued at $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, the director directly owned 12,476 shares of the company’s stock, valued at $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 corporate insiders.

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.