Palisade Capital Management LP Reduces Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Palisade Capital Management LP cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 17.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,834 shares of the technology company's stock after selling 10,163 shares during the quarter. Palisade Capital Management LP's holdings in SS&C Technologies were worth $3,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atwood & Palmer Inc. raised its position in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after purchasing an additional 166 shares during the period. Colonial Trust Co SC raised its holdings in SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after buying an additional 390 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of SS&C Technologies by 163.6% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after acquiring an additional 342 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of SS&C Technologies in the 4th quarter worth about $64,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of 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 worth $67,000 after purchasing an additional 123 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SS&C Technologies 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 owned 12,476 shares of the company's stock, valued at $997,081.92. The trade was a 50.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan E. Michael bought 2,700 shares of the business'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 completion of the transaction, the director directly owned 72,776 shares of the company's stock, valued at $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on SSNC shares. DA Davidson lowered their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a report on Monday, April 28th. 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 Financial decreased 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 report on Friday, April 25th. Needham & Company LLC decreased 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 analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $91.86.

SS&C Technologies Price Performance

NASDAQ:SSNC traded up $0.04 during mid-day trading on Monday, hitting $83.54. 1,196,297 shares of the stock traded hands, compared to its average volume of 1,330,040. The business's 50-day moving average price is $79.79 and its 200 day moving average price is $80.33. The company has a market cap of $20.61 billion, a PE ratio of 25.94 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a 12-month low of $61.13 and a 12-month high of $89.73. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.28 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

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

SS&C Technologies Company 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.