Benson Investment Management Company Inc. Sells 14,319 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Benson Investment Management Company Inc. cut its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 19.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,283 shares of the technology company's stock after selling 14,319 shares during the quarter. SS&C Technologies accounts for about 2.2% of Benson Investment Management Company Inc.'s investment portfolio, making the stock its 22nd largest holding. Benson Investment Management Company Inc.'s holdings in SS&C Technologies were worth $4,952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in SS&C Technologies in the 4th quarter valued at approximately $39,000. Parkside Financial Bank & Trust raised its holdings in shares of SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after purchasing an additional 229 shares in the last quarter. Colonial Trust Co SC boosted its stake 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 worth $42,000 after acquiring an additional 390 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of SS&C Technologies by 163.6% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after acquiring an additional 342 shares in the last quarter. Finally, Financial Perspectives Inc acquired a new position in shares of SS&C Technologies in the 4th quarter worth $51,000. 96.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DA Davidson decreased their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a report on Monday, April 28th. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Raymond James cut 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 report on Friday, April 25th. Finally, Needham & Company LLC lowered their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $91.86.

Insider Activity

In other SS&C Technologies 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 value of $999,000.00. Following the completion of the sale, the director now owns 12,476 shares in the company, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan E. Michael purchased 2,700 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the acquisition, the director now owns 72,776 shares of the company's stock, valued at $5,496,771.28. The trade was a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company's stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC traded up $0.29 during midday trading on Thursday, reaching $80.22. The stock had a trading volume of 814,002 shares, compared to its average volume of 1,312,229. The stock has a market capitalization of $19.79 billion, a P/E ratio of 26.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. SS&C Technologies Holdings, Inc. has a 1-year low of $60.18 and a 1-year high of $89.73. The firm's fifty day simple moving average is $77.79 and its 200-day simple moving average is $79.48.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company's quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. SS&C Technologies's dividend payout ratio is currently 31.06%.

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.