PNC Financial Services Group Inc. Sells 1,191 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

PNC Financial Services Group Inc. reduced its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,839 shares of the technology company’s stock after selling 1,191 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SS&C Technologies were worth $1,621,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $35,000. Benjamin Edwards Inc. increased its holdings in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of SS&C Technologies in the second quarter worth about $47,000. 96.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Raymond James increased their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Up 0.3 %

SSNC stock opened at $77.10 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $74.13 and a two-hundred day moving average price of $69.52. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 27.63 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a twelve month low of $55.45 and a twelve month high of $77.50.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. SS&C Technologies’s payout ratio is 35.84%.

Insider Activity

In other news, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This trade represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

SS&C Technologies Company Profile

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 comprising 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 consisting of claims adjudication, benefit management, care management, and business intelligence solutions.