DnB Asset Management AS cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 12.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,436 shares of the technology company’s stock after selling 5,805 shares during the quarter. DnB Asset Management AS’s holdings in SS&C Technologies were worth $2,283,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis purchased a new stake in shares of SS&C Technologies during the fourth quarter worth approximately $33,000. Benjamin F. Edwards & Company Inc. increased its position in shares of SS&C Technologies by 181.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 716 shares of the technology company’s stock worth $37,000 after purchasing an additional 462 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of SS&C Technologies during the fourth quarter worth approximately $40,000. U.S. Capital Wealth Advisors LLC purchased a new stake in SS&C Technologies in the 4th quarter valued at $66,000. Finally, AM Squared Ltd purchased a new stake in SS&C Technologies in the 4th quarter valued at $68,000. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
SS&C Technologies Stock Performance
Shares of SS&C Technologies stock opened at $59.49 on Friday. SS&C Technologies Holdings, Inc. has a 52 week low of $45.25 and a 52 week high of $64.52. The business’s fifty day simple moving average is $57.22 and its 200-day simple moving average is $56.91. The firm has a market cap of $14.82 billion, a PE ratio of 25.53 and a beta of 1.43. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.13.
SS&C Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, May 31st. SS&C Technologies’s payout ratio is 34.33%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SSNC shares. Credit Suisse Group upped their target price on SS&C Technologies from $78.00 to $83.00 in a report on Friday, April 28th. JPMorgan Chase & Co. started coverage on SS&C Technologies in a report on Wednesday, March 15th. They issued an “overweight” rating and a $68.00 target price for the company. Finally, StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 26th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $68.82.
Insider Buying and Selling
In related news, CFO Patrick J. Pedonti sold 200,000 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $60.03, for a total transaction of $12,006,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.60% of the stock is owned by corporate insiders.
About SS&C Technologies
SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions include portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions comprising claims adjudication, benefit management, care management, and business intelligence solutions.
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