Wedge Capital Management L L P NC Has $59.06 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Wedge Capital Management L L P NC boosted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 1,135.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,105 shares of the technology company's stock after purchasing an additional 649,864 shares during the quarter. SS&C Technologies comprises about 1.1% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 2nd largest holding. Wedge Capital Management L L P NC owned about 0.29% of SS&C Technologies worth $59,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SSNC. Kestra Investment Management LLC acquired a new position in SS&C Technologies in the fourth quarter valued at about $39,000. Parkside Financial Bank & Trust grew its stake 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 valued at $40,000 after acquiring an additional 229 shares during the period. Colonial Trust Co SC grew its stake in SS&C Technologies by 239.3% in 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 during the period. True Wealth Design LLC grew 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 period. Finally, Financial Perspectives Inc acquired a new position in SS&C Technologies in the fourth quarter valued at about $51,000. Institutional investors own 96.95% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 12,500 shares of the 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 sale, the director now owns 12,476 shares in the company, 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 this hyperlink. Also, Director Jonathan E. Michael acquired 2,700 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the acquisition, the director now owns 72,776 shares in the company, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company's stock.

SS&C Technologies Stock Up 0.5%

SSNC opened at $80.64 on Friday. The stock has a market cap of $19.89 billion, a PE ratio of 26.88 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 52 week low of $60.18 and a 52 week high of $89.73. The business's fifty day simple moving average is $77.68 and its 200 day simple moving average is $79.62.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. SS&C Technologies's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, research 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 will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is 31.06%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC reduced their price objective 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. DA Davidson reduced their price objective on SS&C Technologies from $100.00 to $94.00 and set a "buy" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Raymond James dropped their price objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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.

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