Castlekeep Investment Advisors LLC Takes Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Castlekeep Investment Advisors LLC purchased a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,963 shares of the technology company's stock, valued at approximately $2,119,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SSNC. Truist Financial Corp boosted its holdings in SS&C Technologies by 82.0% in the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company's stock worth $1,446,000 after buying an additional 8,598 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company's stock valued at $26,924,000 after acquiring an additional 322,781 shares in the last quarter. Swedbank AB grew its position in shares of SS&C Technologies by 17.5% during the fourth quarter. Swedbank AB now owns 1,753,236 shares of the technology company's stock worth $132,860,000 after purchasing an additional 261,275 shares in the last quarter. Empowered Funds LLC grew its position in shares of SS&C Technologies by 2,569.3% during the fourth quarter. Empowered Funds LLC now owns 108,054 shares of the technology company's stock worth $8,188,000 after purchasing an additional 104,006 shares in the last quarter. Finally, Fisher Funds Management LTD bought a new stake in SS&C Technologies during the 4th quarter valued at approximately $3,544,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SSNC. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Jefferies Financial Group upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating and upped their target price for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. Wall Street Zen raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Needham & Company LLC dropped their price objective on 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. Finally, Raymond James reduced their price objective on 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. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, SS&C Technologies has a consensus rating of "Buy" and an average target price of $91.86.

SS&C Technologies Stock Up 1.4%

SS&C Technologies stock traded up $1.15 during mid-day trading on Tuesday, reaching $80.94. 1,144,655 shares of the company were exchanged, compared to its average volume of 1,315,147. SS&C Technologies Holdings, Inc. has a 12-month low of $60.01 and a 12-month high of $89.73. The business has a fifty day moving average of $78.15 and a 200 day moving average of $79.26. The firm has a market cap of $19.96 billion, a P/E ratio of 26.98 and a beta of 1.24. 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 (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. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid 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 dividend payout ratio (DPR) is presently 31.06%.

Insider Activity at SS&C Technologies

In related news, Director Jonathan E. Michael acquired 2,700 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 72,776 shares of the company's stock, valued at $5,496,771.28. This trade represents a 3.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is currently 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.