Olstein Capital Management L.P. Sells 34,719 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Olstein Capital Management L.P. cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,281 shares of the technology company's stock after selling 34,719 shares during the quarter. Olstein Capital Management L.P.'s holdings in SS&C Technologies were worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pallas Capital Advisors LLC boosted its holdings in SS&C Technologies by 113.6% in the first quarter. Pallas Capital Advisors LLC now owns 15,970 shares of the technology company's stock valued at $1,334,000 after acquiring an additional 8,494 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of SS&C Technologies by 37.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,600 shares of the technology company's stock worth $133,000 after purchasing an additional 437 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of 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 purchasing an additional 649,864 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of SS&C Technologies by 129.8% during the first quarter. Park Avenue Securities LLC now owns 44,548 shares of the technology company's stock valued at $3,721,000 after buying an additional 25,166 shares during the period. Finally, Wedmont Private Capital bought a new position in SS&C Technologies in the first quarter worth about $206,000. Hedge funds and other institutional investors own 96.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SSNC. 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 dropped their price target on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Needham & Company LLC lowered their price objective on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, DA Davidson reduced their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $91.86.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 12,500 shares of the 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 sale, the director now directly owns 12,476 shares of the company's stock, valued at approximately $997,081.92. This represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan E. Michael purchased 2,700 shares of the stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the acquisition, the director now directly owns 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.40% of the company's stock.

SS&C Technologies Trading Up 0.5%

SS&C Technologies stock opened at $80.64 on Monday. SS&C Technologies Holdings, Inc. has a 12 month low of $60.18 and a 12 month high of $89.73. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of 26.88 and a beta of 1.24. The business's fifty day simple moving average is $77.68 and its two-hundred day simple moving average is $79.65. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.03. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. SS&C Technologies's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 1.24%. SS&C Technologies's dividend payout ratio is 31.06%.

About SS&C Technologies

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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