Kingsview Wealth Management LLC Trims Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kingsview Wealth Management LLC reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 29.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,881 shares of the technology company's stock after selling 49,366 shares during the period. Kingsview Wealth Management LLC's holdings in SS&C Technologies were worth $10,097,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SSNC. Steward Partners Investment Advisory LLC lifted its position in SS&C Technologies by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company's stock valued at $67,000 after acquiring an additional 123 shares during the period. HighTower Advisors LLC lifted its position in SS&C Technologies by 6.1% during the 4th quarter. HighTower Advisors LLC now owns 13,658 shares of the technology company's stock valued at $1,035,000 after acquiring an additional 791 shares during the period. Farther Finance Advisors LLC lifted its position in SS&C Technologies by 15.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,163 shares of the technology company's stock valued at $88,000 after acquiring an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in SS&C Technologies by 81.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,724 shares of the technology company's stock worth $661,000 after buying an additional 3,925 shares during the last quarter. Finally, Xponance Inc. raised its holdings in SS&C Technologies by 27.1% in the fourth quarter. Xponance Inc. now owns 23,787 shares of the technology company's stock worth $1,803,000 after buying an additional 5,068 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Jonathan E. Michael purchased 2,700 shares of the firm'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 completion of the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director directly owned 12,476 shares in the company, valued at approximately $997,081.92. This represents a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SSNC has been the subject of several recent analyst reports. DA Davidson lifted their target price on shares of SS&C Technologies from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Monday. Wall Street Zen raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Raymond James Financial reduced their price target 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. Finally, Needham & Company LLC reduced their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research note 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $92.43.

SS&C Technologies Stock Performance

NASDAQ SSNC traded up $0.15 during trading hours on Friday, hitting $83.41. 913,816 shares of the company's stock traded hands, compared to its average volume of 1,326,718. The business's fifty day moving average price is $80.98 and its two-hundred day moving average price is $80.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $20.57 billion, a P/E ratio of 25.90 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a 52 week low of $66.46 and a 52 week high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The company's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is presently 31.06%.

SS&C Technologies Company 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.