Cornerstone Investment Partners LLC Sells 119,782 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornerstone Investment Partners LLC lessened its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 827,693 shares of the technology company's stock after selling 119,782 shares during the period. SS&C Technologies makes up approximately 3.3% of Cornerstone Investment Partners LLC's investment portfolio, making the stock its 13th largest position. Cornerstone Investment Partners LLC owned about 0.34% of SS&C Technologies worth $69,137,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Atwood & Palmer Inc. boosted its holdings in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after acquiring an additional 166 shares during the period. True Wealth Design LLC boosted its holdings in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after acquiring an additional 342 shares during the period. Colonial Trust Co SC boosted its holdings 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 worth $42,000 after acquiring an additional 390 shares during the period. Wayfinding Financial LLC bought a new stake in shares of SS&C Technologies during the first quarter worth approximately $69,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of SS&C Technologies by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company's stock worth $67,000 after acquiring an additional 123 shares during the period. Institutional investors own 96.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SSNC shares. 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. DA Davidson dropped their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Raymond James Financial dropped their price target 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. Finally, Needham & Company LLC dropped their price target on shares of 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 analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $91.86.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the sale, the director owned 12,476 shares of the company's stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan E. Michael bought 2,700 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the purchase, the director owned 72,776 shares of the company's stock, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. Insiders own 16.40% of the company's stock.

SS&C Technologies Price Performance

NASDAQ:SSNC traded down $1.11 during mid-day trading on Friday, reaching $82.50. The stock had a trading volume of 751,526 shares, compared to its average volume of 1,332,247. The stock has a 50-day simple moving average of $80.56 and a two-hundred day simple moving average of $80.57. The stock has a market capitalization of $20.35 billion, a PE ratio of 25.62 and a beta of 1.23. 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 12 month low of $65.00 and a 12 month high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. On average, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. SS&C Technologies's dividend payout ratio (DPR) is 31.06%.

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.