Shapiro Capital Management LLC Cuts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Shapiro Capital Management LLC cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,147,905 shares of the technology company’s stock after selling 515,682 shares during the quarter. SS&C Technologies accounts for approximately 3.0% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Shapiro Capital Management LLC owned 0.46% of SS&C Technologies worth $86,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in SS&C Technologies during the fourth quarter worth $39,000. Parkside Financial Bank & Trust boosted its stake in SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after buying an additional 229 shares during the period. Colonial Trust Co SC boosted 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 buying an additional 390 shares during the period. Financial Perspectives Inc purchased a new position in SS&C Technologies during the fourth quarter worth $51,000. Finally, Rialto Wealth Management LLC purchased a new position in SS&C Technologies during the fourth quarter worth $64,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SS&C Technologies news, SVP Jason Douglas White sold 71,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at approximately $570,411.52. The trade was a 91.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $75.53 per share, with a total value 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 $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 106,500 shares of company stock worth $9,348,130. 16.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SSNC has been the subject of several recent analyst reports. Raymond James dropped their price objective on shares of 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. Royal Bank of Canada lifted their target price on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. UBS Group lifted their target price on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Finally, StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Stock Performance

SSNC stock opened at $79.51 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day moving average price of $78.44 and a 200 day moving average price of $78.79. The company has a market capitalization of $19.61 billion, a P/E ratio of 26.50 and a beta of 1.24. 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 quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Company 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.