Mackenzie Financial Corp reduced its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,108,979 shares of the technology company's stock after selling 93,420 shares during the quarter. Mackenzie Financial Corp owned approximately 0.45% of SS&C Technologies worth $92,633,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its holdings in shares of SS&C Technologies by 29.9% during the first 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 period. Unigestion Holding SA boosted its holdings in shares of 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 purchasing an additional 85,427 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of SS&C Technologies during the first quarter worth approximately $509,000. Bank of New York Mellon Corp raised its position in SS&C Technologies by 6.8% during 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 acquiring an additional 75,807 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in SS&C Technologies by 403.1% during the first 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 in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction 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 sale, the director owned 12,476 shares in the company, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.40% of the company's stock.
SS&C Technologies Stock Performance
Shares of NASDAQ:SSNC traded down $1.44 during trading on Friday, reaching $84.04. The stock had a trading volume of 646,320 shares, compared to its average volume of 1,395,908. SS&C Technologies Holdings, Inc. has a 52 week low of $66.83 and a 52 week high of $89.73. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 26.35 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00. The stock has a fifty day simple moving average of $82.04 and a two-hundred day simple moving average of $81.31.
SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a net margin of 13.34% and a return on equity of 19.08%. SS&C Technologies's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $1.27 earnings per share. As a group, analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.
SS&C Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. SS&C Technologies's dividend payout ratio (DPR) is presently 31.35%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on SSNC. Needham & Company LLC raised their price objective on shares of SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. 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. Morgan Stanley raised their price objective on shares of SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. UBS Group raised their price objective on shares of SS&C Technologies from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $97.13.
Check Out Our Latest Stock Report on SSNC
SS&C Technologies Company Profile
(
Free Report)
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.
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