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

Legacy Wealth Asset Management LLC lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 36.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,643 shares of the technology company's stock after selling 4,365 shares during the period. Legacy Wealth Asset Management LLC's holdings in SS&C Technologies were worth $638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meyer Handelman Co. grew its position in SS&C Technologies by 14.2% during the 1st quarter. Meyer Handelman Co. now owns 85,305 shares of the technology company's stock worth $7,126,000 after acquiring an additional 10,625 shares during the last quarter. BTC Capital Management Inc. lifted its holdings in SS&C Technologies by 29.1% during the first quarter. BTC Capital Management Inc. now owns 40,058 shares of the technology company's stock worth $3,346,000 after acquiring an additional 9,040 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of SS&C Technologies by 9,921.2% in the 1st quarter. GAMMA Investing LLC now owns 275,482 shares of the technology company's stock valued at $23,011,000 after purchasing an additional 272,733 shares during the period. Wellington Management Group LLP raised its stake in shares of SS&C Technologies by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 3,193 shares of the technology company's stock valued at $242,000 after purchasing an additional 161 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of SS&C Technologies by 102.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,070 shares of the technology company's stock valued at $1,900,000 after purchasing an additional 12,717 shares during the period. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Stock Up 0.4%

NASDAQ:SSNC traded up $0.29 during mid-day trading on Thursday, hitting $80.22. 814,002 shares of the company's stock were exchanged, compared to its average volume of 1,314,218. SS&C Technologies Holdings, Inc. has a one year low of $60.18 and a one year high of $89.73. The business has a fifty day moving average price of $77.72 and a 200 day moving average price of $79.52. The company has a market cap of $19.79 billion, a PE ratio of 26.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict 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 will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. SS&C Technologies's dividend payout ratio is 31.06%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SSNC shares. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DA Davidson lowered their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a report on Monday, April 28th. Raymond James decreased their price objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $86.00 price target (down previously from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $91.86.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction that occurred on 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 now owns 12,476 shares of the company's stock, valued at $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The sale 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 SS&C Technologies stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the transaction, the director now owns 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company insiders.

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.