Peregrine Capital Management LLC Cuts Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Peregrine Capital Management LLC trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,754 shares of the technology company's stock after selling 35,573 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.08% of SS&C Technologies worth $17,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. boosted its holdings in SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after buying an additional 166 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after acquiring an additional 229 shares during the last quarter. True Wealth Design LLC increased its position in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after purchasing an additional 342 shares in the last quarter. Colonial Trust Co SC raised its stake in 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 last quarter. Finally, Rialto Wealth Management LLC purchased a new position in SS&C Technologies in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 96.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. DA Davidson reduced 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 research report on Monday, April 28th. Needham & Company LLC dropped their price objective 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Raymond James Financial dropped their price target on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $91.86.

SS&C Technologies Trading Up 0.6%

Shares of NASDAQ SSNC traded up $0.49 during midday trading on Thursday, reaching $83.51. 992,907 shares of the stock were exchanged, compared to its average volume of 1,322,911. The stock has a market capitalization of $20.60 billion, a P/E ratio of 25.93 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 company has a 50 day simple moving average of $79.45 and a 200 day simple moving average of $80.14. SS&C Technologies Holdings, Inc. has a twelve month low of $61.13 and a twelve month high of $89.73.

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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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 (DPR) is 31.06%.

Insider Activity at SS&C Technologies

In related news, Director Jonathan E. Michael bought 2,700 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the acquisition, the director owned 72,776 shares of the company's stock, 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 SEC, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction 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 transaction, the director owned 12,476 shares of the company's stock, valued at approximately $997,081.92. This 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.

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.