Pzena Investment Management LLC Decreases Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pzena Investment Management LLC lessened its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,423,445 shares of the technology company's stock after selling 1,135,562 shares during the period. SS&C Technologies accounts for 3.1% of Pzena Investment Management LLC's holdings, making the stock its 12th biggest holding. Pzena Investment Management LLC owned about 4.23% of SS&C Technologies worth $870,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Summit X LLC acquired a new position in shares of SS&C Technologies during the first quarter worth $328,000. Parcion Private Wealth LLC raised its stake in SS&C Technologies by 3.1% during the first quarter. Parcion Private Wealth LLC now owns 71,401 shares of the technology company's stock worth $5,964,000 after buying an additional 2,136 shares during the last quarter. Bryn Mawr Capital Management LLC raised its stake in SS&C Technologies by 0.6% during the first quarter. Bryn Mawr Capital Management LLC now owns 130,885 shares of the technology company's stock worth $10,933,000 after buying an additional 796 shares during the last quarter. Tectonic Advisors LLC raised its stake in SS&C Technologies by 1.9% during the first quarter. Tectonic Advisors LLC now owns 7,534 shares of the technology company's stock worth $629,000 after buying an additional 144 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in SS&C Technologies by 634.8% during the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after buying an additional 292 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Stock Up 0.7%

SS&C Technologies stock traded up $0.55 during midday trading on Thursday, hitting $83.26. 1,129,250 shares of the stock were exchanged, compared to its average volume of 1,328,370. SS&C Technologies Holdings, Inc. has a 52-week low of $66.46 and a 52-week high of $89.73. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 25.86 and a beta of 1.23. The business's 50-day moving average price is $80.98 and its 200-day moving average price is $80.70. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released 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 firm 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 company's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's payout ratio is 31.06%.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 12,500 shares of the 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 transaction, the director owned 12,476 shares of the company's stock, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction that occurred on 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 acquisition, the director owned 72,776 shares in the company, valued at $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SSNC has been the subject of a number of analyst reports. 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 note 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. DA Davidson lifted their price target on shares of SS&C Technologies from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Monday. Needham & Company LLC decreased 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 note on Friday, April 25th. Finally, Raymond James Financial decreased 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 note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $92.43.

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.