Palisade Capital Management LP Sells 10,163 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Palisade Capital Management LP trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,834 shares of the technology company's stock after selling 10,163 shares during the period. Palisade Capital Management LP's holdings in SS&C Technologies were worth $3,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSNC. Atwood & Palmer Inc. increased its holdings in SS&C Technologies by 125.8% during the 1st 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 last quarter. Colonial Trust Co SC raised its holdings in SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after acquiring an additional 390 shares in the last quarter. True Wealth Design LLC boosted its stake in SS&C Technologies by 163.6% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock valued at $42,000 after acquiring an additional 342 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in SS&C Technologies during the 4th quarter worth $64,000. Finally, Steward Partners Investment Advisory LLC grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Stock Performance

SS&C Technologies stock traded up $0.49 during mid-day trading on Friday, hitting $83.51. 992,907 shares of the company's stock traded hands, compared to its average volume of 1,326,908. The company has a market cap of $20.60 billion, a PE ratio of 25.93 and a beta of 1.23. The firm has a 50 day moving average price of $79.57 and a 200 day moving average price of $80.19. SS&C Technologies Holdings, Inc. has a one year low of $61.13 and a one year 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.28 EPS. SS&C Technologies's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed 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. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Raymond James Financial 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. DA Davidson reduced their price objective on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Needham & Company LLC dropped their target price on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $91.86.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Jonathan E. Michael bought 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, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.

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.