Meiji Yasuda Asset Management Co Ltd. Raises Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Meiji Yasuda Asset Management Co Ltd. raised its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,857 shares of the technology company’s stock after purchasing an additional 1,398 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in SS&C Technologies were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SSNC. Kestra Investment Management LLC acquired a new stake in SS&C Technologies in the fourth quarter valued at $39,000. Parkside Financial Bank & Trust lifted its stake in 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 purchasing an additional 229 shares during the last quarter. Financial Perspectives Inc purchased a new stake in SS&C Technologies during the fourth quarter worth approximately $51,000. Rialto Wealth Management LLC purchased a new position in SS&C Technologies in the fourth quarter valued at approximately $64,000. Finally, CENTRAL TRUST Co acquired a new stake in SS&C Technologies during the fourth quarter worth approximately $65,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SS&C Technologies

In related news, SVP Jason Douglas White sold 71,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $570,411.52. The trade was a 91.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now owns 23,200 shares of the company’s stock, valued at $2,050,648. This trade represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Up 0.7 %

NASDAQ SSNC opened at $83.31 on Wednesday. SS&C Technologies Holdings, Inc. has a 52-week low of $59.63 and a 52-week high of $89.73. The firm has a 50-day moving average price of $83.88 and a 200 day moving average price of $78.07. The stock has a market capitalization of $20.53 billion, a P/E ratio of 27.77 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. SS&C Technologies’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several brokerages have issued reports on SSNC. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Raymond James upped their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, DA Davidson upped their price objective on SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $97.50.

SS&C Technologies 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.