Cresset Asset Management LLC Cuts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cresset Asset Management LLC cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,608 shares of the technology company's stock after selling 6,502 shares during the quarter. Cresset Asset Management LLC owned 0.10% of SS&C Technologies worth $19,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in shares of SS&C Technologies during the 4th quarter worth $39,000. Parkside Financial Bank & Trust increased its holdings in SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock valued at $40,000 after buying an additional 229 shares in the last quarter. Financial Perspectives Inc acquired a new stake in shares of SS&C Technologies during the 4th quarter valued at approximately $51,000. Rialto Wealth Management LLC purchased a new stake in shares of SS&C Technologies during the 4th quarter worth approximately $64,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of SS&C Technologies in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Trading Down 0.2 %

SSNC stock opened at $77.95 on Wednesday. SS&C Technologies Holdings, Inc. has a 52 week low of $60.01 and a 52 week high of $89.73. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 25.98 and a beta of 1.24. 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 fifty day simple moving average of $79.50 and a 200-day simple moving average of $78.59.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The company's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. SS&C Technologies's payout ratio is 31.06%.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several research reports. UBS Group upped their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Raymond James lowered their price target on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Finally, DA Davidson dropped their price target on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $91.86.

Insider Buying and Selling

In other news, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $75.53 per share, with a total value of $203,931.00. Following the completion of the transaction, the director now owns 72,776 shares in the company, valued at approximately $5,496,771.28. This trade represents a 3.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company's stock, valued at approximately $570,411.52. The trade was a 91.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.

About SS&C Technologies

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.

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