Millennium Management LLC Sells 481,827 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Millennium Management LLC decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 92.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,329 shares of the technology company's stock after selling 481,827 shares during the quarter. Millennium Management LLC's holdings in SS&C Technologies were worth $2,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in SS&C Technologies in the 4th quarter valued at about $39,000. Parkside Financial Bank & Trust grew its holdings in SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock valued at $40,000 after buying an additional 229 shares during the period. Colonial Trust Co SC grew its holdings in SS&C Technologies by 239.3% in the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after buying an additional 390 shares during the period. Financial Perspectives Inc purchased a new stake in SS&C Technologies in the 4th quarter valued at about $51,000. Finally, Rialto Wealth Management LLC purchased a new stake in SS&C Technologies in the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Stock Up 0.2%

NASDAQ SSNC traded up $0.19 on Wednesday, reaching $79.93. The company had a trading volume of 816,765 shares, compared to its average volume of 1,314,221. The firm has a market capitalization of $19.72 billion, a PE ratio of 26.64 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 1 year low of $60.18 and a 1 year high of $89.73. The firm has a 50-day moving average of $77.79 and a 200-day moving average of $79.48. 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 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 return on equity of 18.30% and a net margin of 12.93%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.28 EPS. SS&C Technologies's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies's dividend payout ratio is presently 31.06%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Jonathan E. Michael purchased 2,700 shares of the stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $75.53 per share, with a total value of $203,931.00. Following the completion of the acquisition, the director now owns 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SSNC has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Raymond James decreased their target price 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. DA Davidson decreased their target price on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Needham & Company LLC decreased their target price on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $91.86.

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.