Massachusetts Financial Services Co. MA Grows Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Massachusetts Financial Services Co. MA grew its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,157 shares of the technology company's stock after buying an additional 20,663 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.07% of SS&C Technologies worth $14,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of SS&C Technologies in the 4th quarter valued at $205,475,000. Bank of America Corp DE boosted its position in SS&C Technologies by 64.9% during the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock valued at $169,379,000 after buying an additional 880,058 shares during the period. Senator Investment Group LP boosted its position in SS&C Technologies by 133.7% during the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company's stock valued at $115,123,000 after buying an additional 869,175 shares during the period. AQR Capital Management LLC boosted its position in SS&C Technologies by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company's stock valued at $172,038,000 after buying an additional 780,616 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in SS&C Technologies by 1,135.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 707,105 shares of the technology company's stock valued at $59,064,000 after buying an additional 649,864 shares during the period. Hedge funds and other institutional investors own 96.95% of the company's stock.

Insider Transactions at SS&C Technologies

In related news, Director Jonathan E. Michael acquired 2,700 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the acquisition, the director directly owned 72,776 shares in the company, valued at $5,496,771.28. The trade was a 3.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director owned 12,476 shares in the company, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.40% of the company's stock.

SS&C Technologies Stock Up 0.2%

NASDAQ SSNC opened at $83.41 on Friday. 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 company has a fifty day moving average of $81.10 and a two-hundred day moving average of $80.75. The firm has a market capitalization of $20.57 billion, a price-to-earnings 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 issued 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. The firm 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 business's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reissued 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. DA Davidson increased their price target on shares of SS&C Technologies from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Needham & Company LLC reduced their price objective 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. Raymond James Financial reduced their price objective 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, 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. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $92.43.

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.

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