USA Financial Formulas Buys Shares of 3,522 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

USA Financial Formulas bought a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,522 shares of the technology company's stock, valued at approximately $294,000.

Other hedge funds have also modified their holdings of the company. Atwood & Palmer Inc. increased its position in SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after purchasing an additional 166 shares during the last quarter. Kestra Investment Management LLC acquired a new position in SS&C Technologies in the fourth quarter worth approximately $39,000. Parkside Financial Bank & Trust increased its holdings in 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 during the last quarter. Colonial Trust Co SC raised its position in SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after acquiring an additional 390 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in SS&C Technologies by 163.6% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock valued at $42,000 after acquiring an additional 342 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, the director now directly owns 12,476 shares of the company's stock, valued at $997,081.92. The trade was a 50.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the acquisition, the director now directly owns 72,776 shares in the company, valued at $5,496,771.28. This represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company's stock.

SS&C Technologies Stock Performance

Shares of SSNC stock traded up $0.36 during trading hours on Thursday, reaching $81.60. 750,567 shares of the company's stock were exchanged, compared to its average volume of 1,316,760. SS&C Technologies Holdings, Inc. has a fifty-two week low of $60.18 and a fifty-two week high of $89.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $20.13 billion, a P/E ratio of 27.20 and a beta of 1.24. The business has a fifty day moving average price of $77.81 and a 200-day moving average price of $79.71.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.41 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. SS&C Technologies's dividend payout ratio is currently 31.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. DA Davidson dropped their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Needham & Company LLC reduced their price target on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Raymond James lowered their price objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $91.86.

SS&C Technologies Company 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.