Mirae Asset Global Investments Co. Ltd. Acquires 60,784 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 403.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,865 shares of the technology company's stock after purchasing an additional 60,784 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in SS&C Technologies were worth $6,337,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Boston Partners lifted its stake in shares of SS&C Technologies by 283.1% in the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company's stock worth $400,161,000 after acquiring an additional 3,901,227 shares during the period. Norges Bank bought a new position in SS&C Technologies during the 4th quarter valued at $205,475,000. Bank of America Corp DE increased its position in shares of SS&C Technologies by 64.9% during the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock valued at $169,379,000 after purchasing an additional 880,058 shares during the period. Senator Investment Group LP increased its position in shares of SS&C Technologies by 133.7% during the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company's stock valued at $115,123,000 after purchasing an additional 869,175 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of SS&C Technologies by 52.4% in the fourth quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company's stock valued at $172,038,000 after buying an additional 780,616 shares during the period. Institutional investors and hedge funds own 96.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SSNC. DA Davidson cut their price objective on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Needham & Company LLC dropped their target price on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Raymond James Financial decreased their target price 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. Wall Street Zen raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $91.86.

Insider Activity

In other news, Director Jonathan E. Michael purchased 2,700 shares of SS&C Technologies stock in a transaction 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 transaction, the director directly owned 72,776 shares in the company, valued at approximately $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 12,476 shares of the company's stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company's stock.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded down $0.30 during trading hours on Wednesday, hitting $83.02. 1,066,358 shares of the stock were exchanged, compared to its average volume of 1,321,310. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.11 and a quick ratio of 1.11. SS&C Technologies Holdings, Inc. has a one year low of $61.13 and a one year high of $89.73. The company's 50 day moving average is $79.32 and its 200 day moving average is $80.12. The firm has a market capitalization of $20.48 billion, a P/E ratio of 25.78 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly 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. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.28 EPS. The business's revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS 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. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is presently 31.06%.

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.