Merit Financial Group LLC Has $677,000 Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Merit Financial Group LLC increased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 71.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,108 shares of the technology company's stock after acquiring an additional 3,372 shares during the period. Merit Financial Group LLC's holdings in SS&C Technologies were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Kestra Investment Management LLC bought a new position in SS&C Technologies during the fourth quarter valued at about $39,000. Parkside Financial Bank & Trust lifted its holdings 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 valued at $40,000 after acquiring an additional 229 shares during the last quarter. True Wealth Design LLC boosted 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 valued at $42,000 after purchasing an additional 342 shares in the last quarter. Colonial Trust Co SC grew 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 worth $42,000 after purchasing an additional 390 shares during the last quarter. Finally, Financial Perspectives Inc bought a new stake in shares of SS&C Technologies in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Stock Up 0.7%

NASDAQ:SSNC traded up $0.60 during trading hours on Tuesday, hitting $81.82. 878,423 shares of the company's stock traded hands, compared to its average volume of 1,314,287. The stock's fifty day moving average price is $77.63 and its two-hundred day moving average price is $79.68. The firm has a market cap of $20.18 billion, a P/E ratio of 27.27 and a beta of 1.24. 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 Holdings, Inc. has a twelve month low of $60.18 and a twelve month high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is currently 31.06%.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Jonathan E. Michael acquired 2,700 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the purchase, the director now owns 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,476 shares in the company, valued at $997,081.92. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

Analysts Set New Price Targets

SSNC has been the topic of several recent research reports. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. DA Davidson reduced their target price on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a report on Monday, April 28th. Raymond James dropped their price target 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, Needham & Company LLC cut their price objective on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's 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 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.