Lazard Asset Management LLC Has $3.30 Million Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Lazard Asset Management LLC lowered its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,571 shares of the technology company’s stock after selling 1,223 shares during the quarter. Lazard Asset Management LLC’s holdings in SS&C Technologies were worth $3,301,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SSNC. Boston Partners grew its position in SS&C Technologies by 283.1% in the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock valued at $400,161,000 after purchasing an additional 3,901,227 shares during the period. Norges Bank acquired a new stake in SS&C Technologies in the 4th quarter valued at $205,475,000. Bank of America Corp DE grew its position in SS&C Technologies by 64.9% in the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock valued at $169,379,000 after purchasing an additional 880,058 shares during the period. Senator Investment Group LP grew its position in SS&C Technologies by 133.7% in the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock valued at $115,123,000 after purchasing an additional 869,175 shares during the period. Finally, AQR Capital Management LLC grew its position in SS&C Technologies by 52.4% in the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock valued at $172,038,000 after purchasing an additional 780,616 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Jonathan E. Michael acquired 2,700 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the purchase, the director now owns 72,776 shares of the company’s stock, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the completion of the sale, the director now owns 12,476 shares in the company, valued at $997,081.92. This represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,500 shares of company stock worth $9,348,130 in the last ninety days. Company insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

SSNC has been the subject of several research reports. UBS Group lifted their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday. Raymond James cut their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating on the stock in a report on Friday, April 25th. DA Davidson cut their price objective on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, Needham & Company LLC cut their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $91.86.

SS&C Technologies Price Performance

SSNC opened at $79.60 on Friday. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of 26.53 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. 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 firm’s fifty day moving average price is $78.40 and its two-hundred day moving average price is $78.85.

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

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.