Forsta AP Fonden Boosts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Forsta AP Fonden boosted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 31.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,600 shares of the technology company’s stock after acquiring an additional 10,100 shares during the period. Forsta AP Fonden’s holdings in SS&C Technologies were worth $2,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SSNC. Oppenheimer Asset Management Inc. raised its holdings in shares of SS&C Technologies by 4.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 35,165 shares of the technology company’s stock worth $2,264,000 after buying an additional 1,546 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after acquiring an additional 18,878 shares during the period. Empowered Funds LLC acquired a new stake in shares of SS&C Technologies in the first quarter worth $212,000. Mitchell Capital Management Co. increased its stake in shares of SS&C Technologies by 3.2% in the first quarter. Mitchell Capital Management Co. now owns 66,908 shares of the technology company’s stock worth $4,307,000 after acquiring an additional 2,062 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of SS&C Technologies by 0.3% in the first quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock worth $934,595,000 after acquiring an additional 46,211 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SSNC. Jefferies Financial Group raised their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Needham & Company LLC raised their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, DA Davidson reissued a “buy” rating and issued a $78.00 price target on shares of SS&C Technologies in a research note on Tuesday, April 16th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.20.

SS&C Technologies Stock Up 1.0 %

Shares of SSNC stock traded up $0.63 during trading on Monday, reaching $65.94. The company’s stock had a trading volume of 71,847 shares, compared to its average volume of 943,103. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $16.31 billion, a price-to-earnings ratio of 26.02 and a beta of 1.38. The stock’s 50-day moving average price is $62.33 and its 200 day moving average price is $62.10. SS&C Technologies Holdings, Inc. has a 1-year low of $46.61 and a 1-year high of $65.98.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.11 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. On average, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.46%. SS&C Technologies’s payout ratio is currently 38.25%.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 10,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $63.94, for a total value of $639,400.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,429,720. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 32,500 shares of company stock worth $2,027,750. 15.40% of the stock is owned by insiders.

SS&C Technologies Company Profile

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.