University of Texas Texas AM Investment Management Co. Sells 18,648 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• The University of Texas Texas AM Investment Management Co. reduced its holdings in SS&C Technologies by 26.0%, leaving them with 53,132 shares valued at approximately $4.44 million.
• Several large investors increased their stakes in SS&C Technologies, with Atwood & Palmer Inc. upping its position by 125.8% in the first quarter.
• SS&C Technologies recently received upgraded ratings from multiple analysts, including a raise in the price target by Morgan Stanley from $75.00 to $88.00.

University of Texas Texas AM Investment Management Co. trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,132 shares of the technology company's stock after selling 18,648 shares during the period. SS&C Technologies comprises approximately 0.8% of University of Texas Texas AM Investment Management Co.'s portfolio, making the stock its 29th biggest holding. University of Texas Texas AM Investment Management Co.'s holdings in SS&C Technologies were worth $4,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its position in shares of SS&C Technologies by 115.0% in the fourth quarter. American Century Companies Inc. now owns 43,094 shares of the technology company's stock valued at $3,266,000 after purchasing an additional 23,049 shares during the last quarter. LPL Financial LLC grew its position in SS&C Technologies by 13.1% during the fourth quarter. LPL Financial LLC now owns 86,055 shares of the technology company's stock worth $6,521,000 after buying an additional 9,946 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SS&C Technologies by 11.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 163,063 shares of the technology company's stock worth $12,401,000 after buying an additional 16,987 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in SS&C Technologies by 3.6% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 20,484 shares of the technology company's stock worth $1,552,000 after buying an additional 712 shares in the last quarter. Finally, Norges Bank acquired a new stake in SS&C Technologies during the fourth quarter worth about $205,475,000. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the company's 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 directly owned 12,476 shares of the company's stock, valued at approximately $997,081.92. This represents a 50.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. UBS Group raised their price target on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Raymond James Financial raised their price target on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $97.13.

SS&C Technologies Price Performance

NASDAQ:SSNC traded up $0.22 during mid-day trading on Thursday, reaching $85.65. The stock had a trading volume of 467,073 shares, compared to its average volume of 1,393,484. SS&C Technologies Holdings, Inc. has a 12 month low of $66.83 and a 12 month high of $89.73. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $21.13 billion, a PE ratio of 26.87 and a beta of 1.23. The stock has a 50-day simple moving average of $81.77 and a two-hundred day simple moving average of $81.21.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. SS&C Technologies had a net margin of 13.34% and a return on equity of 19.08%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. SS&C Technologies's revenue was up 5.9% compared to the same quarter last year. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's dividend payout ratio is currently 31.35%.

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.