Vest Financial LLC Takes Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Vest Financial LLC bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 1st quarter, HoldingsChannel reports. The firm bought 3,309 shares of the technology company’s stock, valued at approximately $276,000.

Several other institutional investors have also modified their holdings of the stock. Unigestion Holding SA grew its position in shares of SS&C Technologies by 861.7% in the first quarter. Unigestion Holding SA now owns 95,341 shares of the technology company’s stock valued at $7,964,000 after purchasing an additional 85,427 shares during the period. Merit Financial Group LLC grew its position in shares of SS&C Technologies by 71.2% in the first quarter. Merit Financial Group LLC now owns 8,108 shares of the technology company’s stock valued at $677,000 after purchasing an additional 3,372 shares during the period. Meyer Handelman Co. grew its position in shares of SS&C Technologies by 14.2% in the first quarter. Meyer Handelman Co. now owns 85,305 shares of the technology company’s stock valued at $7,126,000 after purchasing an additional 10,625 shares during the period. BTC Capital Management Inc. grew its position in shares of SS&C Technologies by 29.1% in the first quarter. BTC Capital Management Inc. now owns 40,058 shares of the technology company’s stock valued at $3,346,000 after purchasing an additional 9,040 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of SS&C Technologies by 9,921.2% in the first quarter. GAMMA Investing LLC now owns 275,482 shares of the technology company’s stock valued at $23,011,000 after purchasing an additional 272,733 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Price Performance

Shares of SSNC stock opened at $80.64 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50-day moving average is $77.68 and its two-hundred day moving average is $79.65. SS&C Technologies Holdings, Inc. has a 12 month low of $60.18 and a 12 month high of $89.73. The company has a market capitalization of $19.89 billion, a PE ratio of 26.88 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. SS&C Technologies’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given 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 is presently 31.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SSNC. DA Davidson dropped their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Wall Street Zen raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Needham & Company LLC decreased their price target on shares of 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. Finally, Raymond James decreased their price target on shares of 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. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $91.86.

Insider Buying and Selling at SS&C Technologies

In related news, Director Jonathan E. Michael purchased 2,700 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 72,776 shares in the company, valued at approximately $5,496,771.28. The trade was a 3.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction dated 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 now owns 12,476 shares of the company’s stock, valued at approximately $997,081.92. This represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

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.