Mackenzie Financial Corp Buys 49,083 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Mackenzie Financial Corp grew its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,202,399 shares of the technology company's stock after purchasing an additional 49,083 shares during the quarter. Mackenzie Financial Corp owned 0.49% of SS&C Technologies worth $91,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SSNC. Steward Partners Investment Advisory LLC increased its holdings in SS&C Technologies by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company's stock valued at $67,000 after buying an additional 123 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of SS&C Technologies by 2.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,003 shares of the technology company's stock valued at $531,000 after acquiring an additional 139 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of SS&C Technologies by 11.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company's stock valued at $107,000 after acquiring an additional 149 shares during the last quarter. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 158 shares during the period. Finally, Wellington Management Group LLP raised its stake in SS&C Technologies by 5.3% during 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. Institutional investors and hedge funds own 96.95% of the company's stock.

Insider Activity

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 in the company, valued at $997,081.92. The trade was a 50.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan E. Michael acquired 2,700 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the transaction, the director now directly owns 72,776 shares in the company, valued at $5,496,771.28. The trade was 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 corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SSNC. Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Raymond James cut 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. Needham & Company LLC cut 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. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $86.00 price target (down previously from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. One investment 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $91.86.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC traded down $0.14 during trading on Friday, reaching $80.47. The stock had a trading volume of 258,946 shares, compared to its average volume of 1,309,685. SS&C Technologies Holdings, Inc. has a 52 week low of $60.01 and a 52 week high of $89.73. The business's 50-day moving average price is $78.05 and its 200 day moving average price is $79.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $19.85 billion, a PE ratio of 26.80 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. SS&C Technologies's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is currently 31.06%.

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.