Swiss National Bank Acquires 42,200 Shares of SS&C Technologies Holdings, Inc. $SSNC

Swiss National Bank grew its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% in the first quarter, Holdings Channel reports. The firm owned 644,600 shares of the technology company’s stock after acquiring an additional 42,200 shares during the period. Swiss National Bank’s holdings in SS&C Technologies were worth $43,556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Millennium Management LLC raised its stake in shares of SS&C Technologies by 349.1% during the first quarter. Millennium Management LLC now owns 176,630 shares of the technology company’s stock valued at $14,754,000 after acquiring an additional 137,301 shares in the last quarter. NewEdge Advisors LLC grew its stake in SS&C Technologies by 6,069.0% in the first quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company’s stock worth $216,000 after purchasing an additional 2,549 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in SS&C Technologies by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 690,340 shares of the technology company’s stock worth $57,664,000 after purchasing an additional 97,247 shares during the period. Focus Partners Wealth increased its holdings in SS&C Technologies by 35.1% during the 1st quarter. Focus Partners Wealth now owns 9,362 shares of the technology company’s stock worth $782,000 after purchasing an additional 2,431 shares during the period. Finally, Invesco Ltd. raised its position in SS&C Technologies by 17.9% during the 2nd quarter. Invesco Ltd. now owns 569,693 shares of the technology company’s stock valued at $47,171,000 after purchasing an additional 86,606 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SSNC. Morgan Stanley dropped their price target on SS&C Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings lowered shares of SS&C Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Jefferies Financial Group dropped their target price on shares of SS&C Technologies from $92.00 to $83.00 and set a “buy” rating on the stock in a report on Monday. Needham & Company LLC cut their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, UBS Group boosted their price target on shares of SS&C Technologies from $112.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.12.

SS&C Technologies Trading Down 1.3%

Shares of NASDAQ:SSNC opened at $67.02 on Thursday. SS&C Technologies Holdings, Inc. has a 12-month low of $61.40 and a 12-month high of $91.07. The business’s fifty day simple moving average is $66.75 and its 200-day simple moving average is $71.76. The company has a market capitalization of $16.14 billion, a PE ratio of 20.75 and a beta of 1.11. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, April 23rd. The technology company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. SS&C Technologies had a return on equity of 20.15% and a net margin of 12.65%.The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 6.17 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.27 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. SS&C Technologies’s payout ratio is currently 33.44%.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 3,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $66.68, for a total value of $200,040.00. Following the transaction, the director owned 18,404 shares of the company’s stock, valued at $1,227,178.72. The trade was a 14.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan E. Michael sold 2,740 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $66.86, for a total transaction of $183,196.40. Following the transaction, the director owned 79,384 shares of the company’s stock, valued at approximately $5,307,614.24. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,740 shares of company stock valued at $583,576 over the last quarter. 16.00% of the stock is currently owned by corporate insiders.

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.