Cibc World Markets Corp Cuts Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cibc World Markets Corp decreased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 22.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,995 shares of the technology company’s stock after selling 2,976 shares during the period. Cibc World Markets Corp’s holdings in SS&C Technologies were worth $757,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SSNC. Kestra Investment Management LLC purchased a new position in shares of SS&C Technologies during the fourth quarter valued at approximately $39,000. Parkside Financial Bank & Trust boosted its position 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 valued at $40,000 after buying an additional 229 shares during the last quarter. Financial Perspectives Inc purchased a new position in shares of SS&C Technologies during the fourth quarter valued at approximately $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies during the fourth quarter valued at approximately $64,000. Finally, CENTRAL TRUST Co purchased a new position in shares of SS&C Technologies during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SSNC shares. DA Davidson boosted their price objective on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada boosted their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. UBS Group boosted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James boosted their price objective 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. Finally, Needham & Company LLC boosted their price objective 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. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and an average target price of $97.50.

SS&C Technologies Stock Up 0.0 %

Shares of NASDAQ SSNC opened at $82.35 on Friday. SS&C Technologies Holdings, Inc. has a one year low of $59.63 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The business’s fifty day moving average price is $83.61 and its 200-day moving average price is $77.90. The stock has a market capitalization of $20.30 billion, a PE ratio of 27.45 and a beta of 1.36.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data 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 return on equity of 18.30% and a net margin of 12.93%. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. SS&C Technologies’s payout ratio is 33.33%.

Insider Activity at SS&C Technologies

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

SS&C Technologies Company Profile

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.