Burgundy Asset Management Ltd. Sells 113,452 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Burgundy Asset Management Ltd. lowered its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,004,107 shares of the technology company's stock after selling 113,452 shares during the quarter. SS&C Technologies makes up approximately 3.8% of Burgundy Asset Management Ltd.'s holdings, making the stock its biggest position. Burgundy Asset Management Ltd. owned about 2.02% of SS&C Technologies worth $379,211,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SSNC. Kestra Investment Management LLC purchased a new stake in SS&C Technologies during the 4th quarter valued at approximately $39,000. Parkside Financial Bank & Trust boosted its holdings 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 valued at $40,000 after purchasing an additional 229 shares during the last quarter. Colonial Trust Co SC grew its position in shares of SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after purchasing an additional 390 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of SS&C Technologies by 163.6% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after purchasing an additional 342 shares during the last quarter. Finally, Financial Perspectives Inc purchased a new stake in shares of SS&C Technologies in the fourth quarter worth about $51,000. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SSNC shares. Needham & Company LLC lowered their target price 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Raymond James lowered their target price on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a report on Friday, April 25th. UBS Group lifted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group raised SS&C Technologies from a "hold" rating to a "buy" rating and increased 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $91.86.

SS&C Technologies Stock Up 0.1%

NASDAQ:SSNC traded up $0.07 during midday trading on Wednesday, reaching $81.01. 182,448 shares of the stock traded hands, compared to its average volume of 1,310,681. SS&C Technologies Holdings, Inc. has a 12-month low of $60.01 and a 12-month high of $89.73. The business has a 50-day moving average of $78.13 and a two-hundred day moving average of $79.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $19.98 billion, a PE ratio of 27.00 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.50 billion. During the same period last year, the firm posted $1.28 EPS. SS&C Technologies's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 1.23%. SS&C Technologies's dividend payout ratio is presently 31.06%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Jonathan E. Michael bought 2,700 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the acquisition, the director now directly owns 72,776 shares of the company's stock, valued at $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of the stock in a transaction dated Tuesday, May 13th. The shares were 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 owns 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.