Eagle Rock Investment Company LLC Sells 8,798 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Eagle Rock Investment Company LLC reduced its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,346 shares of the technology company’s stock after selling 8,798 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in SS&C Technologies were worth $5,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC grew its holdings in SS&C Technologies by 8.5% during the fourth quarter. Yousif Capital Management LLC now owns 4,749 shares of the technology company’s stock worth $360,000 after buying an additional 374 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of SS&C Technologies by 17.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,081 shares of the technology company’s stock valued at $1,142,000 after purchasing an additional 2,216 shares during the period. Choreo LLC raised its holdings in SS&C Technologies by 253.6% during the 4th quarter. Choreo LLC now owns 23,145 shares of the technology company’s stock valued at $1,751,000 after acquiring an additional 16,600 shares during the period. Global X Japan Co. Ltd. lifted its holdings in SS&C Technologies by 193.3% during the 4th quarter. Global X Japan Co. Ltd. now owns 871 shares of the technology company’s stock worth $66,000 after purchasing an additional 574 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of SS&C Technologies by 32.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 170,247 shares of the technology company’s stock worth $12,901,000 after buying an additional 41,640 shares in the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SS&C Technologies

In other news, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $75.53 per share, with a total value of $203,931.00. Following the acquisition, the director now owns 72,776 shares of the company’s stock, valued at $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 link. Also, Director Michael Jay Zamkow sold 12,500 shares of the 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 completion of the sale, the director now directly owns 12,476 shares of the company’s stock, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SSNC shares. Raymond James lowered their price objective on SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Royal Bank of Canada increased their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Needham & Company LLC dropped their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Buy” and an average price target of $91.86.

SS&C Technologies Stock Performance

Shares of SSNC opened at $80.64 on Friday. 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 business’s 50 day moving average price is $77.68 and its 200-day moving average price is $79.58. SS&C Technologies Holdings, Inc. has a 52 week low of $60.18 and a 52 week high of $89.73. The stock has a market cap of $19.89 billion, a P/E ratio of 26.88 and a beta of 1.24.

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, topping the consensus estimate of $1.41 by $0.03. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies’s dividend payout ratio is currently 31.06%.

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.