SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is Cornerstone Investment Partners LLC’s 10th Largest Position

Cornerstone Investment Partners LLC lessened its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 947,475 shares of the technology company’s stock after selling 2,900 shares during the period. SS&C Technologies makes up 3.6% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 10th biggest position. Cornerstone Investment Partners LLC’s holdings in SS&C Technologies were worth $71,800,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SSNC. International Assets Investment Management LLC grew its position in SS&C Technologies by 7,320.0% during the third quarter. International Assets Investment Management LLC now owns 2,226 shares of the technology company’s stock valued at $165,000 after acquiring an additional 2,196 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of SS&C Technologies by 95.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,353 shares of the technology company’s stock worth $917,000 after buying an additional 6,027 shares during the period. abrdn plc boosted its position in shares of SS&C Technologies by 39.0% in the third quarter. abrdn plc now owns 43,183 shares of the technology company’s stock worth $3,205,000 after buying an additional 12,119 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in shares of SS&C Technologies in the third quarter worth about $202,000. Finally, US Bancorp DE boosted its position in shares of SS&C Technologies by 1.9% in the third quarter. US Bancorp DE now owns 17,160 shares of the technology company’s stock worth $1,273,000 after buying an additional 318 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Activity

In related news, CEO William C. Stone sold 247,300 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the sale, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company’s stock, valued at $2,050,648. The trade was a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 474,000 shares of company stock valued at $37,492,778. Company insiders own 15.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James upped their target price on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 7th. Needham & Company LLC upped their target price on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Royal Bank of Canada increased their price target on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $97.50.

SS&C Technologies Stock Down 0.9 %

Shares of SS&C Technologies stock opened at $88.22 on Tuesday. The business has a 50-day moving average price of $81.37 and a 200 day moving average price of $76.92. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The firm has a market cap of $21.85 billion, a P/E ratio of 29.41 and a beta of 1.38. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

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

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. SS&C Technologies’s payout ratio is currently 33.33%.

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.