Ameriprise Financial Inc. Sells 60,407 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Ameriprise Financial Inc. lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 597,753 shares of the technology company's stock after selling 60,407 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.24% of SS&C Technologies worth $45,298,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of SS&C Technologies during the 4th quarter valued at approximately $12,916,000. Comerica Bank grew its holdings in SS&C Technologies by 8.9% during the fourth quarter. Comerica Bank now owns 34,730 shares of the technology company's stock valued at $2,632,000 after purchasing an additional 2,843 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in SS&C Technologies in the fourth quarter worth $69,000. Utah Retirement Systems raised its stake in shares of SS&C Technologies by 0.6% in the fourth quarter. Utah Retirement Systems now owns 35,636 shares of the technology company's stock valued at $2,700,000 after buying an additional 200 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of SS&C Technologies by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company's stock valued at $172,038,000 after buying an additional 780,616 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Price Performance

NASDAQ:SSNC traded down $0.20 during mid-day trading on Friday, hitting $79.32. 161,567 shares of the stock traded hands, compared to its average volume of 1,300,799. The business's 50-day moving average price is $78.44 and its 200 day moving average price is $78.79. 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 company has a market cap of $19.56 billion, a PE ratio of 26.44 and a beta of 1.24. SS&C Technologies Holdings, Inc. has a 12-month low of $60.01 and a 12-month high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released 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 analyst estimates 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. On average, analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan E. Michael bought 2,700 shares of the stock in a transaction dated Thursday, May 1st. The stock was bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jason Douglas White sold 71,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the transaction, the senior vice president now owns 6,412 shares in the company, valued at approximately $570,411.52. The trade was a 91.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,500 shares of company stock worth $9,348,130 over the last ninety days. 16.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSNC. JPMorgan Chase & Co. restated a "neutral" rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. StockNews.com upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday. Jefferies Financial Group upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, UBS Group boosted their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. 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. Based on data from MarketBeat, the company currently has an average 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.