Millennium Management LLC acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 92,488 shares of the technology company’s stock, valued at approximately $4,172,000.
A number of other institutional investors have also recently bought and sold shares of SSNC. Prime Capital Investment Advisors LLC purchased a new stake in SS&C Technologies during the fourth quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in SS&C Technologies during the fourth quarter valued at about $36,000. CWM LLC grew its holdings in SS&C Technologies by 115.6% during the fourth quarter. CWM LLC now owns 873 shares of the technology company’s stock valued at $39,000 after purchasing an additional 468 shares during the period. FNY Investment Advisers LLC bought a new stake in SS&C Technologies during the fourth quarter valued at about $49,000. Finally, Csenge Advisory Group bought a new stake in SS&C Technologies during the third quarter valued at about $81,000. Institutional investors own 83.99% of the company’s stock.
Several analysts have issued reports on SSNC shares. Zacks Investment Research raised SS&C Technologies from a “sell” rating to a “buy” rating and set a $66.00 price target for the company in a report on Saturday, February 23rd. JPMorgan Chase & Co. set a $70.00 price target on SS&C Technologies and gave the company a “buy” rating in a report on Friday, February 15th. BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Buckingham Research started coverage on SS&C Technologies in a report on Thursday, January 24th. They set a “buy” rating and a $65.00 price target for the company. Finally, UBS Group cut their price target on SS&C Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, January 8th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and four have issued a strong buy rating to the company. SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $67.60.
NASDAQ SSNC opened at $65.07 on Wednesday. The stock has a market capitalization of $16.50 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.07 and a quick ratio of 1.07. SS&C Technologies Holdings, Inc. has a twelve month low of $40.96 and a twelve month high of $66.30.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a return on equity of 16.27% and a net margin of 3.01%. The business’s quarterly revenue was up 157.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 3.6 earnings per share for the current fiscal year.
In other news, CFO Patrick J. Pedonti sold 157,500 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the transaction, the chief financial officer now owns 57,500 shares of the company’s stock, valued at $3,416,075. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.50% of the company’s stock.
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About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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