Summit X LLC Purchases New Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Summit X LLC acquired a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,929 shares of the technology company's stock, valued at approximately $328,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in 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 purchasing an additional 123 shares during the last quarter. HighTower Advisors LLC increased its position in shares of SS&C Technologies by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 13,658 shares of the technology company's stock valued at $1,035,000 after buying an additional 791 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of SS&C Technologies by 15.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,163 shares of the technology company's stock worth $88,000 after buying an additional 158 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of SS&C Technologies by 81.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,724 shares of the technology company's stock worth $661,000 after buying an additional 3,925 shares in the last quarter. Finally, Xponance Inc. grew its stake in SS&C Technologies by 27.1% in the 4th quarter. Xponance Inc. now owns 23,787 shares of the technology company's stock valued at $1,803,000 after acquiring an additional 5,068 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SSNC. 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. DA Davidson raised their price target on SS&C Technologies from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Raymond James Financial dropped their price objective on 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 reduced their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One research 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 MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $92.43.

Insider Buying and Selling

In other SS&C Technologies news, Director Jonathan E. Michael bought 2,700 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the purchase, the director owned 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 filing with the Securities & Exchange Commission, which is available at this link. 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 value of $999,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 16.40% of the company's stock.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $82.71 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 25.69 and a beta of 1.23. SS&C Technologies Holdings, Inc. has a 1 year low of $66.46 and a 1 year high of $89.73. The firm has a 50 day moving average price of $80.87 and a 200 day moving average price of $80.64.

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

SS&C Technologies Announces Dividend

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

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.

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