Riverwater Partners LLC Invests $205,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Riverwater Partners LLC acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,452 shares of the technology company’s stock, valued at approximately $205,000.

Several other large investors also recently modified their holdings of SSNC. Atwood & Palmer Inc. increased its position in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock worth $25,000 after buying an additional 166 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of SS&C Technologies during the fourth quarter worth $39,000. Parkside Financial Bank & Trust increased its position in shares of 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 increased its position in shares of 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. Finally, True Wealth Design LLC increased its position in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock worth $42,000 after buying an additional 342 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SSNC shares. JPMorgan Chase & Co. reiterated 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. Raymond James Financial cut their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 25th. Wall Street Zen raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Needham & Company LLC cut their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, 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 note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Stock Down 0.1%

Shares of NASDAQ SSNC opened at $79.43 on Friday. The firm has a market cap of $19.59 billion, a PE ratio of 24.67 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 12-month low of $61.13 and a 12-month high of $89.73. The company’s fifty day simple moving average is $78.52 and its 200 day simple moving average is $79.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00.

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 analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies’s dividend payout ratio (DPR) is 31.06%.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan E. Michael bought 2,700 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.40% of the company’s stock.

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.