Cornercap Investment Counsel Inc. Cuts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornercap Investment Counsel Inc. reduced its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,964 shares of the technology company’s stock after selling 400 shares during the period. Cornercap Investment Counsel Inc.’s holdings in SS&C Technologies were worth $831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSNC. Steward Partners Investment Advisory LLC grew its position in SS&C Technologies by 16.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company’s stock valued at $67,000 after acquiring an additional 123 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of SS&C Technologies by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after purchasing an additional 137 shares during the last quarter. Global Retirement Partners LLC increased its stake in SS&C Technologies by 11.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock worth $107,000 after buying an additional 149 shares during the period. Farther Finance Advisors LLC lifted its holdings in SS&C Technologies by 15.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,163 shares of the technology company’s stock valued at $88,000 after buying an additional 158 shares in the last quarter. Finally, Legacy Capital Group California Inc. lifted its holdings in SS&C Technologies by 5.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 3,003 shares of the technology company’s stock valued at $228,000 after buying an additional 164 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SSNC shares. Raymond James raised their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 7th. Royal Bank of Canada upped their target price on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, Needham & Company LLC raised their target price on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $97.50.

SS&C Technologies Stock Performance

SSNC stock opened at $81.98 on Friday. The firm has a 50-day simple moving average of $84.15 and a two-hundred day simple moving average of $78.22. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a one year low of $59.63 and a one year high of $89.73. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 27.33 and a beta of 1.36.

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

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, March 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

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

SS&C Technologies Company 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.