Stonegate Investment Group LLC Acquires 445 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Stonegate Investment Group LLC increased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% during the first quarter, HoldingsChannel.com reports. The fund owned 6,772 shares of the technology company’s stock after buying an additional 445 shares during the quarter. Stonegate Investment Group LLC’s holdings in SS&C Technologies were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Atwood & Palmer Inc. raised its stake in shares of SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after buying an additional 166 shares during the period. Kestra Investment Management LLC bought a new stake in shares of SS&C Technologies in the fourth quarter valued at $39,000. Parkside Financial Bank & Trust raised its stake in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after buying an additional 229 shares during the period. True Wealth Design LLC raised its stake in shares of SS&C Technologies by 163.6% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock valued at $42,000 after buying an additional 342 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock valued at $42,000 after buying an additional 390 shares during the period. 96.95% of the stock is currently owned by institutional investors.

SS&C Technologies Price Performance

Shares of NASDAQ SSNC opened at $79.43 on Friday. The stock 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 fifty-two week low of $61.13 and a fifty-two week high of $89.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $78.52 and a 200-day moving average of $79.87.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results 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. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, June 2nd. SS&C Technologies’s payout ratio is 31.06%.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 12,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 12,476 shares in the company, valued at $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the transaction, the director now owns 72,776 shares of the company’s stock, valued at $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSNC. JPMorgan Chase & Co. restated a “neutral” rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Raymond James Financial lowered their target price on 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. DA Davidson lowered their target price on 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. Wall Street Zen upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, Needham & Company LLC reduced their price target on 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. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of “Buy” and a consensus target price of $91.86.

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.