SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC cut its stake 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 SEC. The institutional investor owned 827,693 shares of the technology company's stock after selling 119,782 shares during the quarter. SS&C Technologies makes up approximately 3.3% of Cornerstone Investment Partners LLC's portfolio, making the stock its 13th biggest position. Cornerstone Investment Partners LLC owned 0.34% of SS&C Technologies worth $69,137,000 at the end of the most recent reporting period.

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

SS&C Technologies Stock Performance

NASDAQ SSNC traded down $0.97 during trading on Friday, reaching $82.64. The company's stock had a trading volume of 374,962 shares, compared to its average volume of 1,332,071. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. SS&C Technologies Holdings, Inc. has a twelve month low of $61.50 and a twelve month high of $89.73. The business's fifty day moving average price is $80.47 and its 200-day moving average price is $80.48. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 25.65 and a beta of 1.23.

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

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.25 per share. 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 payout ratio 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 stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the acquisition, the director owned 72,776 shares of the company's stock, valued at $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 12,500 shares of the business'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 value of $999,000.00. Following the transaction, the director owned 12,476 shares in the company, valued at $997,081.92. The trade was a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SSNC shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies 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 report on Friday, May 16th. Raymond James Financial lowered 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 report on Friday, April 25th. DA Davidson dropped their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reduced 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 research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, SS&C Technologies presently has a consensus rating of "Buy" and a consensus target price of $91.86.

About SS&C Technologies

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.