Pekin Hardy Strauss Inc. Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pekin Hardy Strauss Inc. lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 27.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,056 shares of the technology company's stock after selling 18,354 shares during the period. Pekin Hardy Strauss Inc.'s holdings in SS&C Technologies were worth $4,014,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. grew its position in shares of SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock valued at $25,000 after buying an additional 166 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of SS&C Technologies by 239.3% in the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after purchasing an additional 390 shares during the period. True Wealth Design LLC lifted its stake 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 valued at $42,000 after purchasing an additional 342 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of SS&C Technologies in the 4th quarter valued at about $64,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of SS&C Technologies by 16.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company's stock valued at $67,000 after purchasing an additional 123 shares during the period. Institutional investors own 96.95% of the company's stock.

Insider Activity at SS&C Technologies

In other news, Director Jonathan E. Michael acquired 2,700 shares of SS&C Technologies stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $75.53 per share, with a total value of $203,931.00. Following the completion of the acquisition, the director owned 72,776 shares in the company, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the stock in a transaction 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 transaction, the director directly owned 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 disclosure for this sale can be found here. Corporate insiders own 16.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SSNC shares. Needham & Company LLC dropped their price objective on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. DA Davidson dropped their price objective 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. Wall Street Zen raised 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 objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of "Buy" and a consensus price target of $91.86.

SS&C Technologies Stock Up 0.3%

Shares of SS&C Technologies stock traded up $0.29 on Thursday, hitting $83.61. The company had a trading volume of 936,063 shares, compared to its average volume of 1,332,815. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 25.97 and a beta of 1.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average of $80.31 and a 200-day moving average of $80.42. SS&C Technologies Holdings, Inc. has a 1 year low of $61.13 and a 1 year high of $89.73.

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

SS&C Technologies Announces Dividend

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