Quantinno Capital Management LP increased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 122.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 431,341 shares of the technology company’s stock after purchasing an additional 237,232 shares during the quarter. Quantinno Capital Management LP owned approximately 0.18% of SS&C Technologies worth $29,146,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Progeny 3 Inc. boosted its stake in shares of SS&C Technologies by 11.9% in the 1st quarter. Progeny 3 Inc. now owns 1,258,900 shares of the technology company’s stock valued at $85,064,000 after purchasing an additional 133,400 shares during the last quarter. Dean Capital Management raised its stake in shares of SS&C Technologies by 19.9% during the first quarter. Dean Capital Management now owns 34,562 shares of the technology company’s stock worth $2,335,000 after buying an additional 5,732 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of SS&C Technologies during the first quarter worth approximately $3,921,000. OMERS ADMINISTRATION Corp lifted its holdings in SS&C Technologies by 14.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 37,700 shares of the technology company’s stock valued at $2,547,000 after buying an additional 4,834 shares during the period. Finally, Callodine Capital Management LP lifted its holdings in SS&C Technologies by 89.4% in the first quarter. Callodine Capital Management LP now owns 449,401 shares of the technology company’s stock valued at $30,366,000 after buying an additional 212,148 shares during the period. 96.90% of the stock is owned by institutional investors.
SS&C Technologies Trading Down 0.2%
Shares of NASDAQ SSNC opened at $77.05 on Friday. SS&C Technologies Holdings, Inc. has a twelve month low of $61.40 and a twelve month high of $91.07. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 22.14 and a beta of 1.11. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average is $67.99 and its 200-day moving average is $71.25.
SS&C Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. SS&C Technologies’s payout ratio is presently 31.03%.
Wall Street Analysts Forecast Growth
SSNC has been the subject of a number of analyst reports. Weiss Ratings lowered shares of SS&C Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. UBS Group raised their price target on SS&C Technologies from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Jefferies Financial Group decreased their price objective on SS&C Technologies from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Royal Bank Of Canada upped their price objective on SS&C Technologies from $89.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.25.
Check Out Our Latest Research Report on SSNC
Insider Activity
In other news, Director Jonathan E. Michael sold 2,740 shares of SS&C Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $66.86, for a total transaction of $183,196.40. Following the transaction, the director owned 79,384 shares in the company, valued at $5,307,614.24. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 3,000 shares of SS&C Technologies stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $66.68, for a total value of $200,040.00. Following the transaction, the director owned 18,404 shares in the company, valued at $1,227,178.72. This trade represents a 14.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,740 shares of company stock valued at $583,576 over the last 90 days. Corporate insiders own 16.00% of the company’s stock.
SS&C Technologies Company Profile
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
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