Valley Wealth Managers Inc. Decreases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• Valley Wealth Managers Inc. decreased its position in SS&C Technologies Holdings, Inc. by 4.1%, owning 230,482 shares valued at approximately $19.25 million after selling nearly 10,000 shares in the first quarter.
• Recent insider trading activity includes Director Michael Jay Zamkow selling 12,500 shares for about $999,000, and Director Jonathan E. Michael purchasing 2,700 shares valued at approximately $203,931.
• Analysts have set new price targets for SS&C Technologies, with ratings varying from "buy" to "strong buy", and targets ranging from $88.00 to $108.00, reflecting a positive outlook for the stock.

Valley Wealth Managers Inc. trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,482 shares of the technology company's stock after selling 9,884 shares during the period. Valley Wealth Managers Inc. owned approximately 0.09% of SS&C Technologies worth $19,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. grew its position in shares of SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after buying an additional 166 shares in the last quarter. Larson Financial Group LLC grew its holdings in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after acquiring an additional 292 shares in the last quarter. Whittier Trust Co. bought a new stake in shares of SS&C Technologies in the 1st quarter worth about $29,000. True Wealth Design LLC raised its stake in shares of SS&C Technologies by 163.6% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock valued at $42,000 after purchasing an additional 342 shares in the last quarter. Finally, Colonial Trust Co SC lifted its position in shares of SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the transaction, the director owned 12,476 shares in the company, valued at approximately $997,081.92. The trade was a 50.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan E. Michael purchased 2,700 shares of the stock in a transaction dated Thursday, May 1st. The shares were 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 directly owned 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company insiders.

SS&C Technologies Stock Down 0.8%

SS&C Technologies stock opened at $85.18 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. SS&C Technologies Holdings, Inc. has a one year low of $66.83 and a one year high of $89.73. The company has a 50-day simple moving average of $81.57 and a 200-day simple moving average of $81.04. The firm has a market capitalization of $21.01 billion, a P/E ratio of 26.70 and a beta of 1.23.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. SS&C Technologies's quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

SSNC has been the topic of a number of research analyst reports. UBS Group reaffirmed a "buy" rating and set a $108.00 target price (up previously from $105.00) on shares of SS&C Technologies in a report on Tuesday. Morgan Stanley raised their price objective on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Thursday. Raymond James Financial lifted their price objective on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a report on Thursday. Needham & Company LLC raised their price target on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SS&C Technologies currently has a consensus rating of "Buy" and an average target price of $97.13.

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.

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