Man Group plc Increases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Man Group plc raised its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 125.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 305,392 shares of the technology company’s stock after purchasing an additional 169,668 shares during the period. Man Group plc’s holdings in SS&C Technologies were worth $23,143,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in SS&C Technologies in the fourth quarter valued at approximately $39,000. Parkside Financial Bank & Trust grew its stake in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after buying an additional 229 shares in the last quarter. Colonial Trust Co SC increased its stake in SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after purchasing an additional 390 shares during the period. Financial Perspectives Inc purchased a new stake in SS&C Technologies during the 4th quarter worth approximately $51,000. Finally, Rialto Wealth Management LLC purchased a new position in SS&C Technologies in the 4th quarter valued at approximately $64,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the sale, the director now directly owns 23,200 shares of the company’s stock, valued at $2,050,648. This represents a 49.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This represents a 91.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,500 shares of company stock valued at $9,348,130. 16.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SSNC has been the topic of several analyst reports. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday. Raymond James decreased their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. UBS Group raised their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $91.86.

SS&C Technologies Stock Performance

Shares of SSNC opened at $79.51 on Friday. The company has a market capitalization of $19.61 billion, a price-to-earnings ratio of 26.50 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 52-week low of $60.01 and a 52-week high of $89.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $78.44 and a 200 day moving average price of $78.79.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

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.