Burgundy Asset Management Ltd. Decreases Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Burgundy Asset Management Ltd. trimmed its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,004,107 shares of the technology company’s stock after selling 113,452 shares during the quarter. SS&C Technologies makes up 3.8% of Burgundy Asset Management Ltd.’s portfolio, making the stock its biggest position. Burgundy Asset Management Ltd.’s holdings in SS&C Technologies were worth $379,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners boosted its position in SS&C Technologies by 283.1% in the fourth quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock valued at $400,161,000 after buying an additional 3,901,227 shares in the last quarter. Norges Bank acquired a new stake in SS&C Technologies in the fourth quarter valued at approximately $205,475,000. Bank of America Corp DE boosted its position in SS&C Technologies by 64.9% in the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock valued at $169,379,000 after buying an additional 880,058 shares in the last quarter. Senator Investment Group LP boosted its position in SS&C Technologies by 133.7% in the fourth quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock valued at $115,123,000 after buying an additional 869,175 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in SS&C Technologies by 52.4% in the fourth quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock valued at $172,038,000 after buying an additional 780,616 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Jonathan E. Michael bought 2,700 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the purchase, the director now directly owns 72,776 shares of the company’s stock, valued at approximately $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director now directly owns 12,476 shares of the company’s stock, valued at $997,081.92. This represents a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $78.90 on Friday. The firm has a market cap of $19.46 billion, a PE ratio of 26.30 and a beta of 1.24. The firm’s fifty day moving average is $78.25 and its 200-day moving average is $79.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52 week low of $60.01 and a 52 week high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $1.28 earnings per share. SS&C Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of research analyst reports. 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 research report on Monday, February 3rd. DA Davidson cut their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. 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 report on Friday, February 7th. Finally, Wall Street Zen upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. One equities 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $91.86.

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.