Kentucky Retirement Systems Invests $1.23 Million in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kentucky Retirement Systems bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,670 shares of the technology company's stock, valued at approximately $1,225,000.

A number of other hedge funds have also bought and sold shares of the company. Truist Financial Corp increased its stake in SS&C Technologies by 82.0% during the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company's stock valued at $1,446,000 after purchasing an additional 8,598 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of SS&C Technologies during the fourth quarter worth about $200,000. Global Retirement Partners LLC raised its holdings in shares of SS&C Technologies by 11.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company's stock worth $107,000 after acquiring an additional 149 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in SS&C Technologies by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 3,220 shares of the technology company's stock valued at $244,000 after purchasing an additional 245 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in SS&C Technologies by 20.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,297 shares of the technology company's stock worth $98,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 96.95% of the company's stock.

SS&C Technologies Stock Performance

SSNC traded down $0.95 during midday trading on Wednesday, reaching $80.48. The company had a trading volume of 756,675 shares, compared to its average volume of 1,318,323. SS&C Technologies Holdings, Inc. has a 12-month low of $61.13 and a 12-month high of $89.73. The business has a 50-day moving average price of $78.68 and a two-hundred day moving average price of $79.93. The stock has a market cap of $19.85 billion, a PE ratio of 24.99 and a beta of 1.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11.

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, beating analysts' consensus estimates of $1.41 by $0.03. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

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

Insider Transactions at SS&C Technologies

In other 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 sale, the director now directly owns 12,476 shares of the company's stock, valued at approximately $997,081.92. This represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan E. Michael acquired 2,700 shares of the business's 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 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 disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SSNC. Needham & Company LLC cut their target price on 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. Raymond James Financial reduced their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. DA Davidson cut their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $91.86.

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.