Reinhart Partners LLC. Sells 90,304 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Reinhart Partners LLC. lessened its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 38.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,317 shares of the technology company's stock after selling 90,304 shares during the quarter. Reinhart Partners LLC. owned 0.06% of SS&C Technologies worth $12,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of SS&C Technologies during the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its position in shares of SS&C Technologies by 76.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after buying an additional 229 shares during the period. True Wealth Design LLC lifted its position in shares of 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 buying an additional 342 shares during the period. Colonial Trust Co SC lifted its position in shares of SS&C Technologies by 239.3% during the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after buying an additional 390 shares during the period. Finally, Financial Perspectives Inc bought a new position in shares of SS&C Technologies during the 4th quarter worth approximately $51,000. Institutional investors own 96.95% of the company's stock.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director now directly owns 12,476 shares of the company's stock, valued at $997,081.92. The trade was 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 available at this link. Also, Director Jonathan E. Michael acquired 2,700 shares of the firm's 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 completion of the purchase, the director now owns 72,776 shares of the company's stock, 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 insiders.

SS&C Technologies Stock Up 0.5%

NASDAQ SSNC opened at $80.64 on Friday. The stock has a fifty day moving average of $77.68 and a 200-day moving average of $79.58. The stock has a market capitalization of $19.89 billion, a P/E ratio of 26.88 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 52 week low of $60.18 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 released 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. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. SS&C Technologies's dividend payout ratio (DPR) is presently 31.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SSNC shares. Raymond James cut their price objective 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. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reiterated 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 lifted their price objective on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Needham & Company LLC cut their price objective on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research report 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target 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.

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