Punch & Associates Investment Management Inc. boosted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 112,689 shares of the technology company’s stock after purchasing an additional 3,332 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in SS&C Technologies were worth $7,177,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank acquired a new stake in SS&C Technologies during the 1st quarter worth about $109,590,000. Prudential Financial Inc. increased its holdings in shares of SS&C Technologies by 1,123.6% in the 4th quarter. Prudential Financial Inc. now owns 191,664 shares of the technology company’s stock valued at $8,646,000 after purchasing an additional 176,000 shares during the period. DNB Asset Management AS increased its holdings in shares of SS&C Technologies by 38.2% in the 1st quarter. DNB Asset Management AS now owns 66,016 shares of the technology company’s stock valued at $4,205,000 after purchasing an additional 18,255 shares during the period. First Trust Advisors LP increased its holdings in shares of SS&C Technologies by 90.7% in the 4th quarter. First Trust Advisors LP now owns 570,685 shares of the technology company’s stock valued at $25,744,000 after purchasing an additional 271,417 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of SS&C Technologies by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 2,936,473 shares of the technology company’s stock valued at $132,465,000 after purchasing an additional 77,505 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.
In other news, SVP Joseph J. Frank sold 10,141 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $59.89, for a total value of $607,344.49. Following the completion of the sale, the senior vice president now directly owns 9,910 shares of the company’s stock, valued at $593,509.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow acquired 17,000 shares of SS&C Technologies stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $59.76 per share, with a total value of $1,015,920.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,270,880. The disclosure for this purchase can be found here. Insiders bought 17,159 shares of company stock valued at $1,025,569 over the last three months. 14.50% of the stock is owned by company insiders.
SS&C Technologies stock traded down $0.79 during trading hours on Friday, reaching $56.58. 1,301,392 shares of the company were exchanged, compared to its average volume of 1,033,983. The stock has a market capitalization of $14.51 billion, a P/E ratio of 21.60, a PEG ratio of 1.67 and a beta of 1.33. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.77. SS&C Technologies Holdings, Inc. has a 12 month low of $40.96 and a 12 month high of $67.73.
SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. SS&C Technologies had a return on equity of 17.19% and a net margin of 3.20%. The company’s revenue was up 164.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. SS&C Technologies’s dividend payout ratio is 15.27%.
A number of brokerages have recently weighed in on SSNC. Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Saturday, February 23rd. UBS Group upped their target price on SS&C Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $77.00 target price (up previously from $75.00) on shares of SS&C Technologies in a report on Wednesday, May 1st. Credit Suisse Group upped their target price on SS&C Technologies from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, DA Davidson increased their price objective on SS&C Technologies from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $70.57.
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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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