Castleark Management LLC Trims Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Castleark Management LLC decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 63.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,400 shares of the technology company's stock after selling 6,010 shares during the quarter. Castleark Management LLC's holdings in SS&C Technologies were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SSNC. Steward Partners Investment Advisory LLC boosted its position in shares of SS&C Technologies by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company's stock worth $67,000 after acquiring an additional 123 shares during the last quarter. EP Wealth Advisors LLC increased its position in SS&C Technologies by 2.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,003 shares of the technology company's stock worth $531,000 after purchasing an additional 139 shares in the last quarter. Global Retirement Partners LLC raised its holdings in SS&C Technologies by 11.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company's stock valued at $107,000 after buying an additional 149 shares during the period. Farther Finance Advisors LLC lifted its position in SS&C Technologies by 15.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,163 shares of the technology company's stock valued at $88,000 after buying an additional 158 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in SS&C Technologies by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,193 shares of the technology company's stock valued at $242,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company's stock.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director now owns 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan E. Michael purchased 2,700 shares of the stock in a transaction dated Thursday, May 1st. The stock was purchased at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the acquisition, the director now directly owns 72,776 shares in the company, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC cut their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Raymond James cut their price objective on 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. DA Davidson reduced their price objective on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. StockNews.com upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Finally, Royal Bank of Canada boosted their price target 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. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $91.86.

SS&C Technologies Stock Down 2.3%

Shares of NASDAQ SSNC opened at $78.53 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 1 year low of $60.01 and a 1 year high of $89.73. The stock's 50-day simple moving average is $78.32 and its 200-day simple moving average is $79.04. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 26.18 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $1.28 EPS. SS&C Technologies's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies 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.

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