Allianz Asset Management GmbH Purchases 264,535 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Allianz Asset Management GmbH raised its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 579.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,182 shares of the technology company's stock after purchasing an additional 264,535 shares during the period. Allianz Asset Management GmbH owned 0.13% of SS&C Technologies worth $25,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its position in SS&C Technologies by 29.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock valued at $1,341,000 after purchasing an additional 3,698 shares during the period. Unigestion Holding SA lifted its position in SS&C Technologies by 861.7% during the 1st quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock valued at $7,964,000 after purchasing an additional 85,427 shares during the period. Ritholtz Wealth Management acquired a new position in SS&C Technologies during the 1st quarter valued at about $509,000. Bank of New York Mellon Corp lifted its position in SS&C Technologies by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after purchasing an additional 75,807 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of SS&C Technologies by 403.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after acquiring an additional 60,784 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on SSNC. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group raised their price target on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday. Raymond James Financial raised their target price on shares of SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a research note on Thursday. Morgan Stanley raised their price target on SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $97.13.

SS&C Technologies Stock Down 0.8%

SS&C Technologies stock traded down $0.67 during trading on Friday, hitting $85.18. 1,581,130 shares of the company were exchanged, compared to its average volume of 1,096,290. The business's 50 day moving average is $81.46 and its 200 day moving average is $80.98. SS&C Technologies Holdings, Inc. has a 52 week low of $66.83 and a 52 week high of $89.73. The company has a market capitalization of $21.01 billion, a P/E ratio of 26.70 and a beta of 1.23. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a return on equity of 19.08% and a net margin of 13.34%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.25 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. SS&C Technologies's payout ratio is currently 31.35%.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total value of $999,000.00. Following the sale, the director owned 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 purchased at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the acquisition, the director owned 72,776 shares in the company, valued at $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.40% of the company's stock.

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.