Verdence Capital Advisors LLC Cuts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Verdence Capital Advisors LLC lessened its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,304 shares of the technology company's stock after selling 15,112 shares during the quarter. Verdence Capital Advisors LLC's holdings in SS&C Technologies were worth $6,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SSNC. Unigestion Holding SA lifted its holdings in shares of 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 buying an additional 85,427 shares during the period. Ritholtz Wealth Management acquired a new position in SS&C Technologies during the 1st quarter valued at about $509,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SS&C Technologies by 403.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after purchasing an additional 60,784 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of SS&C Technologies by 6.8% in the first 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 purchasing an additional 75,807 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of SS&C Technologies by 31.7% in the first quarter. Envestnet Asset Management Inc. now owns 736,523 shares of the technology company's stock worth $61,522,000 after buying an additional 177,079 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on SSNC shares. Needham & Company LLC lowered their target price on SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DA Davidson raised their target price on SS&C Technologies from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday. 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 note on Friday, April 25th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $92.43.

SS&C Technologies Trading Up 0.7%

NASDAQ:SSNC traded up $0.55 on Thursday, hitting $83.26. 1,129,250 shares of the stock were exchanged, compared to its average volume of 1,328,370. The stock has a market cap of $20.54 billion, a PE ratio of 25.86 and a beta of 1.23. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average of $80.98 and a 200-day moving average of $80.70. SS&C Technologies Holdings, Inc. has a fifty-two week low of $66.46 and a fifty-two week high of $89.73.

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

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is presently 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.