Norges Bank Acquires Shares of 2,711,471 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Norges Bank bought a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the fourth quarter, HoldingsChannel reports. The fund bought 2,711,471 shares of the technology company’s stock, valued at approximately $205,475,000.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in SS&C Technologies during the 4th quarter worth $39,000. Parkside Financial Bank & Trust boosted its stake in shares of SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after buying an additional 229 shares during the period. Financial Perspectives Inc purchased a new position in shares of SS&C Technologies during the fourth quarter worth about $51,000. Rialto Wealth Management LLC acquired a new position in SS&C Technologies in the 4th quarter valued at about $64,000. Finally, CENTRAL TRUST Co purchased a new stake in SS&C Technologies during the 4th quarter valued at approximately $65,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Down 2.0 %

Shares of NASDAQ SSNC opened at $81.98 on Monday. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 27.33 and a beta of 1.36. SS&C Technologies Holdings, Inc. has a 52 week low of $59.63 and a 52 week high of $89.73. The firm has a 50-day moving average price of $84.15 and a 200 day moving average price of $78.29. 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 posted its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (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%. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. DA Davidson raised their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. UBS Group boosted their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $97.50.

Insider Activity

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

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.