Turtle Creek Asset Management Inc. Sells 147,353 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Turtle Creek Asset Management Inc. decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,953,588 shares of the technology company's stock after selling 147,353 shares during the quarter. SS&C Technologies comprises approximately 3.8% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 12th biggest holding. Turtle Creek Asset Management Inc. owned approximately 0.79% of SS&C Technologies worth $148,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of SS&C Technologies in the fourth quarter worth $39,000. Parkside Financial Bank & Trust raised its position in shares of SS&C Technologies by 76.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after buying an additional 229 shares in the last quarter. Colonial Trust Co SC raised its position in shares of SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after buying an additional 390 shares in the last quarter. Financial Perspectives Inc purchased a new stake in shares of SS&C Technologies in the fourth quarter worth $51,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of SS&C Technologies in the fourth quarter worth $64,000. Institutional investors own 96.95% of the company's stock.

Analyst Ratings Changes

SSNC has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded SS&C Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. DA Davidson cut their target price 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. StockNews.com upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of "Buy" and an average target price of $91.86.

SS&C Technologies Price Performance

NASDAQ:SSNC traded down $1.86 during midday trading on Wednesday, hitting $78.53. The company had a trading volume of 1,538,314 shares, compared to its average volume of 1,314,792. SS&C Technologies Holdings, Inc. has a 52-week low of $60.01 and a 52-week high of $89.73. The stock's fifty day moving average price is $78.32 and its 200-day moving average price is $79.04. The company has a market capitalization of $19.37 billion, a PE ratio of 26.18 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. As a group, research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jonathan E. Michael acquired 2,700 shares of the stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $75.53 per share, with a total value of $203,931.00. Following the completion of the purchase, the director now owns 72,776 shares in the company, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company's stock, valued at approximately $2,050,648. This trade represents a 49.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

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.