Sequoia Financial Advisors LLC Sells 508,230 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sequoia Financial Advisors LLC cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 99.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,403 shares of the technology company’s stock after selling 508,230 shares during the period. Sequoia Financial Advisors LLC’s holdings in SS&C Technologies were worth $258,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in SS&C Technologies in the fourth quarter worth $39,000. Parkside Financial Bank & Trust boosted its holdings 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 worth $40,000 after purchasing an additional 229 shares in the last quarter. Financial Perspectives Inc bought a new stake in SS&C Technologies in the fourth quarter worth $51,000. Rialto Wealth Management LLC bought a new stake in SS&C Technologies during the fourth quarter valued at about $64,000. Finally, CENTRAL TRUST Co bought a new stake in SS&C Technologies during the fourth quarter valued at about $65,000. 96.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares of the company’s stock, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $570,411.52. This trade represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Up 1.3 %

Shares of SSNC opened at $82.85 on Thursday. The company has a 50-day simple moving average of $83.33 and a 200-day simple moving average of $77.79. The firm has a market capitalization of $20.42 billion, a P/E ratio of 27.62 and a beta of 1.36. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52 week low of $59.63 and a 52 week high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. On average, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, March 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SSNC. Royal Bank of Canada upped their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $94.00 in a report on Monday, February 3rd. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Needham & Company LLC upped their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, DA Davidson upped their price target on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $97.50.

About SS&C Technologies

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.