Assetmark Inc. Buys 6,588 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Assetmark Inc. increased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,310 shares of the technology company's stock after purchasing an additional 6,588 shares during the quarter. Assetmark Inc.'s holdings in SS&C Technologies were worth $5,789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atwood & Palmer Inc. lifted its position in SS&C Technologies by 125.8% during the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock valued at $25,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC boosted its stake in SS&C Technologies by 634.8% in the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after acquiring an additional 292 shares during the last quarter. Whittier Trust Co. acquired a new stake in SS&C Technologies during the 1st quarter worth $29,000. Colonial Trust Co SC raised its position in shares of SS&C Technologies by 239.3% during the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after acquiring an additional 390 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of SS&C Technologies by 163.6% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock valued at $42,000 after purchasing an additional 342 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Down 1.7%

Shares of SSNC stock traded down $1.42 on Friday, hitting $84.06. 580,579 shares of the stock were exchanged, compared to its average volume of 1,395,473. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $20.73 billion, a P/E ratio of 26.38 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $89.73. The business has a 50-day moving average of $82.04 and a 200 day moving average of $81.31.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. SS&C Technologies had a return on equity of 19.08% and a net margin of 13.34%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's payout ratio is presently 31.35%.

Analyst Ratings Changes

A number of brokerages recently commented on SSNC. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. UBS Group upped their price target on SS&C Technologies from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Raymond James Financial lifted their price objective on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Needham & Company LLC upped their target price on shares of SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $97.13.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the sale, the director directly owned 12,476 shares of the company's stock, valued at $997,081.92. The trade was a 50.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.40% 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.