Point72 Asset Management L.P. Sells 580,804 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Point72 Asset Management L.P. lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 97.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,896 shares of the technology company's stock after selling 580,804 shares during the period. Point72 Asset Management L.P.'s holdings in SS&C Technologies were worth $977,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SSNC. Kestra Investment Management LLC bought a new position in SS&C Technologies in the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust raised its position in SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after purchasing an additional 229 shares during the last quarter. Colonial Trust Co SC raised its position 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 worth $42,000 after purchasing an additional 390 shares during the last quarter. Financial Perspectives Inc bought a new position in SS&C Technologies in the 4th quarter worth approximately $51,000. Finally, Rialto Wealth Management LLC bought a new position in SS&C Technologies in the 4th quarter worth approximately $64,000. Institutional investors own 96.95% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Raymond James dropped their price objective on shares of 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. JPMorgan Chase & Co. restated a "neutral" rating and issued a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Royal Bank of Canada boosted their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. UBS Group upped their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. One 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $91.86.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $78.53 on Thursday. The firm has a fifty day moving average of $78.32 and a two-hundred day moving average of $79.04. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 26.18 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 52 week low of $60.01 and a 52 week high of $89.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

Insider Activity

In other news, Director Michael Jay Zamkow sold 23,000 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares of the company's stock, valued at $2,050,648. The trade was a 49.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan E. Michael purchased 2,700 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $75.53 per share, with a total value of $203,931.00. Following the acquisition, the director now directly owns 72,776 shares in the company, valued at $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company 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.

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