Kentucky Retirement Systems Buys New Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kentucky Retirement Systems bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 14,670 shares of the technology company’s stock, valued at approximately $1,225,000.

Several other large investors have also recently bought and sold shares of the stock. Atwood & Palmer Inc. raised its stake in shares of SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after buying an additional 166 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after buying an additional 229 shares in the last quarter. 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 buying an additional 342 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of SS&C Technologies by 239.3% in the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock valued at $42,000 after buying an additional 390 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of SS&C Technologies in the 4th quarter valued at $64,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Wall Street Zen upgraded 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 dropped their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Raymond James Financial dropped their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating for the company in a research report on Friday, April 25th. Finally, DA Davidson dropped their target price on shares of 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. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Stock Up 0.8%

Shares of NASDAQ:SSNC opened at $81.43 on Wednesday. SS&C Technologies Holdings, Inc. has a 12 month low of $61.13 and a 12 month high of $89.73. The company’s 50-day moving average price is $78.68 and its two-hundred day moving average price is $79.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00. The firm has a market cap of $20.09 billion, a P/E ratio of 25.29 and a beta of 1.24.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data 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 13.69% and a return on equity of 18.68%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies’s dividend payout ratio is currently 31.06%.

Insiders Place Their Bets

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 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 of the company’s stock, valued at $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm’s 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 completion of the transaction, the director now directly owns 12,476 shares in the company, valued at $997,081.92. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. 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.