Cookson Peirce & Co. Inc. Trims Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cookson Peirce & Co. Inc. cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,227 shares of the technology company’s stock after selling 3,726 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.10% of SS&C Technologies worth $20,484,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SSNC. Atwood & Palmer Inc. increased its holdings in SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after buying an additional 166 shares during the period. Larson Financial Group LLC increased its holdings in SS&C Technologies by 634.8% during the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company’s stock valued at $28,000 after buying an additional 292 shares during the period. Whittier Trust Co. purchased a new position in SS&C Technologies during the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in SS&C Technologies during the first quarter valued at approximately $29,000. Finally, True Wealth Design LLC increased its holdings in SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock valued at $42,000 after buying an additional 342 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SSNC. JPMorgan Chase & Co. lifted their price objective on shares of SS&C Technologies from $86.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. DA Davidson lifted their price target on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. UBS Group lifted their price target on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC lifted their price target on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $97.13.

SS&C Technologies Trading Up 2.1%

NASDAQ:SSNC opened at $87.92 on Thursday. SS&C Technologies Holdings, Inc. has a 12 month low of $66.83 and a 12 month high of $89.73. The firm has a fifty day simple moving average of $83.09 and a 200-day simple moving average of $81.75. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $21.47 billion, a P/E ratio of 27.56 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. SS&C Technologies’s payout ratio is currently 31.35%.

SS&C Technologies 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.