The Manufacturers Life Insurance Company trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 42.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,523,391 shares of the technology company’s stock after selling 1,106,672 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in SS&C Technologies were worth $61,667,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Advisor Group Inc. grew its position in SS&C Technologies by 14.3% during the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock worth $106,000 after buying an additional 348 shares in the last quarter. QS Investors LLC grew its position in SS&C Technologies by 165.7% during the second quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock worth $185,000 after buying an additional 3,000 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in SS&C Technologies during the second quarter worth about $247,000. Dynamic Technology Lab Private Ltd purchased a new position in SS&C Technologies during the second quarter worth about $268,000. Finally, PEAK6 Investments L.P. grew its position in SS&C Technologies by 177.1% during the third quarter. PEAK6 Investments L.P. now owns 6,909 shares of the technology company’s stock worth $277,000 after buying an additional 15,875 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.
In other news, CFO Patrick J. Pedonti sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $40.39, for a total value of $807,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 60,000 shares of company stock valued at $2,616,200 over the last quarter. Company insiders own 17.60% of the company’s stock.
SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, February 15th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. SS&C Technologies had a return on equity of 15.81% and a net margin of 19.63%. The firm had revenue of $439.40 million during the quarter, compared to analysts’ expectations of $433.44 million. During the same period in the prior year, the business earned $0.46 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts anticipate that SS&C Technologies Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, February 28th. SS&C Technologies’s payout ratio is currently 18.18%.
Several research firms recently commented on SSNC. JPMorgan Chase & Co. upgraded SS&C Technologies from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. DA Davidson restated a “buy” rating and set a $44.00 target price on shares of SS&C Technologies in a research report on Thursday, October 26th. Needham & Company LLC restated a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 27th. BidaskClub upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on SS&C Technologies to $60.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $50.70.
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SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
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