Park Avenue Securities LLC Raises Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Park Avenue Securities LLC grew its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 129.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,548 shares of the technology company's stock after purchasing an additional 25,166 shares during the period. Park Avenue Securities LLC's holdings in SS&C Technologies were worth $3,721,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital bought a new stake in shares of SS&C Technologies in the 1st quarter valued at about $206,000. Gateway Investment Advisers LLC lifted its stake in shares of SS&C Technologies by 10.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 19,592 shares of the technology company's stock valued at $1,637,000 after acquiring an additional 1,827 shares during the last quarter. Radnor Capital Management LLC bought a new stake in shares of SS&C Technologies in the 1st quarter valued at about $210,000. Davis Capital Management lifted its stake in shares of SS&C Technologies by 8.3% in the 1st quarter. Davis Capital Management now owns 9,243 shares of the technology company's stock valued at $772,000 after acquiring an additional 711 shares during the last quarter. Finally, Vest Financial LLC bought a new stake in shares of SS&C Technologies in the 1st quarter valued at about $276,000. Institutional investors own 96.95% of the company's stock.

SS&C Technologies Stock Down 3.0%

Shares of SSNC stock traded down $2.44 during midday trading on Friday, reaching $79.16. 1,055,843 shares of the stock were exchanged, compared to its average volume of 1,318,136. SS&C Technologies Holdings, Inc. has a 1 year low of $60.18 and a 1 year high of $89.73. The company's 50 day moving average is $78.12 and its two-hundred day moving average is $79.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $19.53 billion, a PE ratio of 26.39 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its 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. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior 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, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. SS&C Technologies's dividend payout ratio (DPR) is 31.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SSNC shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. 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 reduced their price target on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a report on Friday, April 25th. DA Davidson reduced their price target on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Needham & Company LLC reduced 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. One research 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, SS&C Technologies presently has a consensus rating of "Buy" and a consensus target price of $91.86.

Insiders Place Their Bets

In related news, Director Jonathan E. Michael purchased 2,700 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 owns 12,476 shares in the company, valued at $997,081.92. The trade was a 50.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

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.