Castlekeep Investment Advisors LLC Buys New Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Castlekeep Investment Advisors LLC purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 4th quarter, HoldingsChannel reports. The firm purchased 27,963 shares of the technology company’s stock, valued at approximately $2,119,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SSNC. Vanguard Group Inc. grew its stake in SS&C Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 20,215,026 shares of the technology company’s stock worth $1,531,895,000 after purchasing an additional 239,438 shares during the period. Boston Partners grew its position in shares of SS&C Technologies by 283.1% during the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after buying an additional 3,901,227 shares during the period. Cantillon Capital Management LLC increased its stake in shares of SS&C Technologies by 0.6% in the 4th quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company’s stock valued at $343,517,000 after acquiring an additional 25,895 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SS&C Technologies by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,158,478 shares of the technology company’s stock valued at $239,353,000 after acquiring an additional 258,554 shares during the period. Finally, Norges Bank bought a new position in SS&C Technologies during the fourth quarter worth $205,475,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Price Performance

Shares of NASDAQ SSNC opened at $78.10 on Tuesday. The company has a market capitalization of $19.24 billion, a PE ratio of 26.03 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $79.71 and its 200-day moving average price is $78.59. SS&C Technologies Holdings, Inc. has a twelve month low of $60.01 and a twelve month high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s payout ratio is 31.06%.

Insider Activity

In related news, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 23,200 shares in the company, valued at approximately $2,050,648. This represents a 49.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares of the company’s stock, 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. Insiders own 16.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SSNC. UBS Group lifted their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Royal Bank of Canada raised their price objective on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Needham & Company LLC cut their target price on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, DA Davidson decreased their price target on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $91.86.

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.