Principal Financial Group Inc. cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,554 shares of the technology company’s stock after selling 464 shares during the quarter. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $882,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unigestion Holding SA increased its position in shares of SS&C Technologies by 861.7% during the first quarter. Unigestion Holding SA now owns 95,341 shares of the technology company’s stock worth $7,964,000 after acquiring an additional 85,427 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of SS&C Technologies during the first quarter worth $509,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SS&C Technologies by 403.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company’s stock worth $6,337,000 after acquiring an additional 60,784 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in 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 valued at $12,401,000 after purchasing an additional 16,987 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in SS&C Technologies by 47.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,933 shares of the technology company’s stock valued at $3,085,000 after purchasing an additional 11,863 shares in the last quarter. 96.95% of the stock is owned by institutional investors.
SS&C Technologies Stock Performance
Shares of SSNC stock opened at $83.41 on Friday. The firm has a market capitalization of $20.57 billion, a PE ratio of 25.90 and a beta of 1.23. The firm has a fifty day simple moving average of $81.10 and a two-hundred day simple moving average of $80.78. 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 Holdings, Inc. has a 12 month low of $66.63 and a 12 month high of $89.73.
SS&C Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. SS&C Technologies’s dividend payout ratio (DPR) is presently 31.06%.
Insider Transactions at SS&C Technologies
In related news, Director Michael Jay Zamkow sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director owned 12,476 shares in the company, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan E. Michael acquired 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the acquisition, the director directly owned 72,776 shares of the company’s stock, valued at $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SSNC. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $86.00 price target (down previously from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Needham & Company LLC cut their target price on shares of 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. Wall Street Zen upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Raymond James Financial cut their target price 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. Finally, DA Davidson lifted their price objective on shares of SS&C Technologies from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and a consensus target price of $92.43.
Read Our Latest Research Report on SS&C Technologies
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.
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