SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp has reduced its stake in SS&C Technologies by 6.1%, owning 139,355 shares valued at approximately $11.64 million following the sale of 9,043 shares.
• Several institutional investors have increased their holdings in SS&C Technologies, with notable increases from Bank of America Corp DE (64.9%) and AQR Capital Management LLC (52.4%) during the fourth quarter.
• The stock of SS&C Technologies is currently rated as a "Buy" by analysts, with a consensus price target of $97.13, reflecting recent upward adjustments by firms such as Raymond James and JPMorgan Chase & Co..

UNIVEST FINANCIAL Corp trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 6.1% 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 139,355 shares of the technology company's stock after selling 9,043 shares during the period. UNIVEST FINANCIAL Corp owned about 0.06% of SS&C Technologies worth $11,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased its position in SS&C Technologies by 29.9% during the first quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock worth $1,341,000 after buying an additional 3,698 shares during the last quarter. Unigestion Holding SA raised its position in SS&C Technologies by 861.7% in the 1st quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock worth $7,964,000 after purchasing an additional 85,427 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of SS&C Technologies during the 1st quarter valued at $509,000. Bank of New York Mellon Corp grew its holdings in shares of SS&C Technologies by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after buying an additional 75,807 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SS&C Technologies by 403.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after buying an additional 60,784 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on SSNC. UBS Group restated a "buy" rating and set a $108.00 price objective (up from $105.00) on shares of SS&C Technologies in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Morgan Stanley lifted 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 report on Thursday, July 24th. Needham & Company LLC lifted their target price on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Raymond James Financial boosted their target price on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, SS&C Technologies currently has a consensus rating of "Buy" and an average target price of $97.13.

SS&C Technologies Stock Performance

Shares of SSNC traded up $0.40 during mid-day trading on Tuesday, hitting $85.79. 516,637 shares of the company traded hands, compared to its average volume of 1,391,260. The stock has a 50-day moving average price of $82.24 and a two-hundred day moving average price of $81.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $20.95 billion, a price-to-earnings ratio of 26.89 and a beta of 1.25. SS&C Technologies Holdings, Inc. has a 1 year low of $66.83 and a 1 year high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share 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 18.92%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. SS&C Technologies's revenue for the quarter was up 5.9% on a year-over-year basis. 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 company 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 1.2%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is currently 31.35%.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction that occurred on 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 in the company, valued at $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 available at this link. Corporate insiders own 16.40% of the company's stock.

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.