Oliver Luxxe Assets LLC acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the first quarter, HoldingsChannel.com reports. The fund acquired 4,280 shares of the technology company’s stock, valued at approximately $273,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank acquired a new stake in SS&C Technologies during the first quarter valued at $109,590,000. Prudential Financial Inc. lifted its position in shares of SS&C Technologies by 1,123.6% in the fourth quarter. Prudential Financial Inc. now owns 191,664 shares of the technology company’s stock worth $8,646,000 after buying an additional 176,000 shares during the last quarter. First Hawaiian Bank lifted its position in shares of SS&C Technologies by 18.8% in the fourth quarter. First Hawaiian Bank now owns 17,779 shares of the technology company’s stock worth $802,000 after buying an additional 2,808 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of SS&C Technologies by 4.1% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,337 shares of the technology company’s stock worth $601,000 after purchasing an additional 528 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of SS&C Technologies by 90.7% in the fourth quarter. First Trust Advisors LP now owns 570,685 shares of the technology company’s stock worth $25,744,000 after purchasing an additional 271,417 shares during the period. 83.99% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Patrick J. Pedonti sold 157,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total transaction of $9,357,075.00. Following the transaction, the chief financial officer now directly owns 57,500 shares in the company, valued at $3,416,075. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.50% of the company’s stock.
SSNC traded down $0.14 on Friday, hitting $60.21. 16,457 shares of the stock traded hands, compared to its average volume of 1,704,523. SS&C Technologies Holdings, Inc. has a 52 week low of $40.96 and a 52 week high of $67.73. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.56 and a beta of 1.22.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. SS&C Technologies had a return on equity of 17.59% and a net margin of 3.20%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 164.7% compared to the same quarter last year. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 3.61 EPS for the current year.
A number of equities analysts have recently commented on SSNC shares. Needham & Company LLC reiterated a “strong-buy” rating and issued a $75.00 price objective (up from $70.00) on shares of SS&C Technologies in a research note on Friday, February 15th. Buckingham Research started coverage on SS&C Technologies in a research note on Thursday, January 24th. They issued a “buy” rating and a $65.00 price objective on the stock. Jefferies Financial Group lowered SS&C Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $58.00 to $64.00 in a research note on Wednesday. BidaskClub upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on SS&C Technologies and gave the stock a “buy” rating in a research note on Friday, February 15th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.00.
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SS&C Technologies Company Profile
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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