Diamond Hill Capital Management Inc. Has $484 Million Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Diamond Hill Capital Management Inc. decreased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,794,265 shares of the technology company's stock after selling 975,704 shares during the period. SS&C Technologies accounts for about 2.2% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 9th largest holding. Diamond Hill Capital Management Inc. owned 2.35% of SS&C Technologies worth $483,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its stake in shares of SS&C Technologies by 29.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock worth $1,341,000 after purchasing an additional 3,698 shares during the last quarter. Unigestion Holding SA boosted its holdings in SS&C Technologies by 861.7% during the first quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock worth $7,964,000 after buying an additional 85,427 shares in the last quarter. Ritholtz Wealth Management acquired a new position in SS&C Technologies in the first quarter worth approximately $509,000. Bank of New York Mellon Corp increased its holdings in shares of SS&C Technologies by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after buying an additional 75,807 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SS&C Technologies by 403.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after acquiring an additional 60,784 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael Jay Zamkow sold 12,500 shares of the 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 transaction, the director owned 12,476 shares of the company's stock, valued at $997,081.92. This represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan E. Michael bought 2,700 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the transaction, the director directly owned 72,776 shares in the company, valued at $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SSNC shares. Raymond James Financial lifted their target price on SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a report on Thursday. Morgan Stanley lifted their price target on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group restated a "buy" rating and set a $108.00 price target (up previously from $105.00) on shares of SS&C Technologies in a report on Tuesday. Needham & Company LLC increased their target price on SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday. Finally, DA Davidson upped their price objective on shares of SS&C Technologies from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $96.63.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded up $2.18 during trading hours on Thursday, hitting $85.85. 2,773,479 shares of the stock were exchanged, compared to its average volume of 1,012,502. The firm has a market capitalization of $21.18 billion, a P/E ratio of 26.91 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a one year low of $66.83 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50 day moving average is $81.33 and its 200 day moving average is $80.91.

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

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's 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.