Progeny 3 Inc. Buys 207,600 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Progeny 3 Inc. lifted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 989,200 shares of the technology company’s stock after acquiring an additional 207,600 shares during the quarter. SS&C Technologies makes up approximately 6.0% of Progeny 3 Inc.’s investment portfolio, making the stock its 6th largest position. Progeny 3 Inc. owned approximately 0.40% of SS&C Technologies worth $74,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SSNC. Pallas Capital Advisors LLC increased its position in SS&C Technologies by 51.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 7,476 shares of the technology company’s stock worth $567,000 after buying an additional 2,548 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of SS&C Technologies by 385.8% in the fourth quarter. Park Avenue Securities LLC now owns 19,382 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 15,392 shares during the last quarter. Meyer Handelman Co. grew its position in shares of SS&C Technologies by 13.0% in the fourth quarter. Meyer Handelman Co. now owns 74,680 shares of the technology company’s stock valued at $5,659,000 after purchasing an additional 8,588 shares during the last quarter. Burney Co. grew its position in shares of SS&C Technologies by 5.6% in the fourth quarter. Burney Co. now owns 197,059 shares of the technology company’s stock valued at $14,933,000 after purchasing an additional 10,374 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of SS&C Technologies by 11.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 57,241 shares of the technology company’s stock valued at $4,338,000 after purchasing an additional 5,744 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Activity

In related news, Director Jonathan E. Michael acquired 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the acquisition, the director now directly owns 72,776 shares of the company’s stock, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.

SS&C Technologies Trading Down 0.5%

Shares of SSNC stock opened at $79.26 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $19.55 billion, a P/E ratio of 26.42 and a beta of 1.24. The stock has a 50 day simple moving average of $78.50 and a 200 day simple moving average of $78.72. SS&C Technologies Holdings, Inc. has a 1 year low of $60.01 and a 1 year high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last released its 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. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. UBS Group upped their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Raymond James cut 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 note on Friday, April 25th. Finally, Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $91.86.

About SS&C Technologies

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.