Bamco Inc. NY Reduces Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bamco Inc. NY decreased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 6.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 908,091 shares of the technology company’s stock after selling 61,673 shares during the period. Bamco Inc. NY owned 0.37% of SS&C Technologies worth $58,454,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SSNC. Price T Rowe Associates Inc. MD boosted its position in shares of SS&C Technologies by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after acquiring an additional 25,183 shares during the last quarter. BOKF NA lifted its position in SS&C Technologies by 13.6% in the 1st quarter. BOKF NA now owns 24,142 shares of the technology company’s stock worth $1,534,000 after buying an additional 2,885 shares during the last quarter. LRI Investments LLC bought a new stake in SS&C Technologies in the 1st quarter worth approximately $357,000. Capital International Investors lifted its position in SS&C Technologies by 111.1% in the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after buying an additional 564,017 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its position in SS&C Technologies by 66.4% in the 1st quarter. EntryPoint Capital LLC now owns 3,717 shares of the technology company’s stock worth $239,000 after buying an additional 1,483 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group lifted their price target on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada lifted their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, DA Davidson lifted their price target on SS&C Technologies from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.80.

SS&C Technologies Trading Up 6.3 %

Shares of SSNC traded up $4.27 during mid-day trading on Friday, hitting $72.29. 2,959,802 shares of the company’s stock traded hands, compared to its average volume of 867,725. The firm has a market capitalization of $17.88 billion, a P/E ratio of 28.80 and a beta of 1.38. The business’s 50-day moving average price is $63.27 and its 200-day moving average price is $62.63. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $73.30. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total value of $453,450.00. Following the sale, the director now directly owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 32,500 shares of company stock valued at $2,027,750. 15.40% of the stock is currently owned by corporate insiders.

About SS&C Technologies

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.