Benson Investment Management Company Inc. Cuts Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Benson Investment Management Company Inc. trimmed its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 19.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,283 shares of the technology company's stock after selling 14,319 shares during the quarter. SS&C Technologies makes up about 2.2% of Benson Investment Management Company Inc.'s portfolio, making the stock its 22nd largest holding. Benson Investment Management Company Inc.'s holdings in SS&C Technologies were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SS&C Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 20,215,026 shares of the technology company's stock valued at $1,531,895,000 after purchasing an additional 239,438 shares in the last quarter. Janus Henderson Group PLC raised its holdings in SS&C Technologies by 3.4% in the 4th quarter. Janus Henderson Group PLC now owns 16,598,958 shares of the technology company's stock valued at $1,257,869,000 after buying an additional 539,483 shares during the last quarter. Boston Partners boosted its position in SS&C Technologies by 283.1% during the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company's stock worth $400,161,000 after buying an additional 3,901,227 shares during the period. Cantillon Capital Management LLC boosted its position in SS&C Technologies by 0.6% during the 4th quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company's stock worth $343,517,000 after buying an additional 25,895 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in SS&C Technologies by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,158,478 shares of the technology company's stock worth $239,353,000 after acquiring an additional 258,554 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Trading Up 0.5%

SS&C Technologies stock traded up $0.42 during trading hours on Friday, reaching $80.64. 1,167,298 shares of the company's stock were exchanged, compared to its average volume of 1,317,121. The firm's 50 day simple moving average is $77.68 and its 200 day simple moving average is $79.62. SS&C Technologies Holdings, Inc. has a twelve month low of $60.18 and a twelve month high of $89.73. 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 firm has a market capitalization of $19.89 billion, a PE ratio of 26.88 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. SS&C Technologies's payout ratio is 31.06%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank of Canada raised their target price on SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $86.00 price target (down previously from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Finally, Raymond James lowered their price objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a research report on Friday, April 25th. One equities 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. Based on data from MarketBeat.com, SS&C Technologies presently has an average rating of "Buy" and a consensus target price of $91.86.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 12,500 shares of the firm'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 transaction, the director now directly owns 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan E. Michael acquired 2,700 shares of SS&C Technologies stock in a transaction on Thursday, May 1st. The stock was purchased 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 directly owns 72,776 shares in the company, valued at $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase 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.