Pallas Capital Advisors LLC Buys 8,494 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pallas Capital Advisors LLC lifted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 113.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,970 shares of the technology company's stock after acquiring an additional 8,494 shares during the quarter. Pallas Capital Advisors LLC's holdings in SS&C Technologies were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Kestra Investment Management LLC acquired a new position in shares of SS&C Technologies in the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its holdings in SS&C Technologies by 76.1% in the fourth 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 boosted its position 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 valued at $42,000 after acquiring an additional 390 shares during the last quarter. True Wealth Design LLC grew its holdings 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 worth $42,000 after acquiring an additional 342 shares during the period. Finally, Financial Perspectives Inc bought a new position in shares of SS&C Technologies in the 4th quarter worth about $51,000. 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 firm'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 transaction of $999,000.00. Following the completion of the transaction, the director now owns 12,476 shares of the company's stock, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan E. Michael acquired 2,700 shares of SS&C Technologies stock in a transaction that occurred on 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 transaction, the director now owns 72,776 shares in the company, valued at $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. Insiders own 16.40% of the company's stock.

SS&C Technologies Stock Up 0.3%

Shares of NASDAQ SSNC traded up $0.22 during trading on Thursday, hitting $81.46. The stock had a trading volume of 176,227 shares, compared to its average volume of 1,312,490. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a fifty day moving average of $77.81 and a two-hundred day moving average of $79.71. 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 $20.09 billion, a PE ratio of 27.15 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share 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 the consensus estimate of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 1.23%. SS&C Technologies's payout ratio is currently 31.06%.

Wall Street Analyst Weigh In

SSNC has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Raymond James reduced their target price on 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, DA Davidson dropped their price target on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, SS&C Technologies presently has a consensus rating of "Buy" and an average target price of $91.86.

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.