Kornitzer Capital Management Inc. KS Has $4.67 Million Stake in SS&C Technologies Holdings, Inc. $SSNC

Kornitzer Capital Management Inc. KS reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,642 shares of the technology company’s stock after selling 9,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in SS&C Technologies were worth $4,673,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Caldwell Trust Co bought a new position in SS&C Technologies in the 2nd quarter valued at about $27,000. Quent Capital LLC bought a new position in SS&C Technologies during the 3rd quarter valued at $39,000. Root Financial Partners LLC purchased a new position in SS&C Technologies during the 3rd quarter worth $42,000. Osterweis Capital Management Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter worth $40,000. Finally, Salem Investment Counselors Inc. raised its holdings in shares of SS&C Technologies by 71.7% in the third quarter. Salem Investment Counselors Inc. now owns 625 shares of the technology company’s stock valued at $55,000 after purchasing an additional 261 shares during the last quarter. 96.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SS&C Technologies in a report on Wednesday, January 21st. DA Davidson lifted their price target on SS&C Technologies from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. UBS Group upped their price objective on SS&C Technologies from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Jefferies Financial Group boosted their price target on shares of SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Insiders Place Their Bets

In other SS&C Technologies news, Director Normand A. Boulanger sold 150,000 shares of SS&C Technologies stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total transaction of $12,877,500.00. Following the completion of the transaction, the director owned 386,924 shares of the company’s stock, valued at $33,217,425.40. The trade was a 27.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.40% of the stock is owned by insiders.

SS&C Technologies Stock Down 0.3%

SSNC opened at $85.49 on Wednesday. SS&C Technologies Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $91.07. The company has a market cap of $20.86 billion, a PE ratio of 25.37 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $86.62 and a 200 day moving average of $86.16.

SS&C Technologies Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.27 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.08 annualized dividend and a yield of 1.3%. SS&C Technologies’s dividend payout ratio (DPR) is currently 32.05%.

SS&C Technologies 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.