Bamco Inc. NY decreased its holdings in shares of SS&C Technologies (NASDAQ:SSNC) by 3.6% during the first quarter, HoldingsChannel.com reports. The fund owned 6,423,877 shares of the technology company’s stock after selling 242,424 shares during the quarter. SS&C Technologies comprises about 1.6% of Bamco Inc. NY’s investment portfolio, making the stock its 14th biggest holding. Bamco Inc. NY’s holdings in SS&C Technologies were worth $344,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of SSNC. Atria Investments LLC bought a new stake in SS&C Technologies during the 4th quarter valued at $327,000. Bank of Montreal Can raised its holdings in SS&C Technologies by 965.7% during the 4th quarter. Bank of Montreal Can now owns 115,448 shares of the technology company’s stock valued at $4,673,000 after acquiring an additional 104,615 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in SS&C Technologies by 4.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 646,770 shares of the technology company’s stock valued at $26,182,000 after acquiring an additional 24,598 shares during the period. Frontier Capital Management Co. LLC raised its holdings in SS&C Technologies by 66.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,671,877 shares of the technology company’s stock valued at $108,158,000 after acquiring an additional 1,064,603 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in SS&C Technologies during the 4th quarter valued at $501,000. 74.12% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Paul Gerard Igoe sold 112,000 shares of the company’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $48.17, for a total value of $5,395,040.00. Following the completion of the transaction, the senior vice president now directly owns 112,000 shares in the company, valued at $5,395,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan E. Michael bought 12,543 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was bought at an average price of $49.10 per share, with a total value of $615,861.30. The disclosure for this purchase can be found here. 17.50% of the stock is owned by insiders.
A number of equities research analysts have issued reports on SSNC shares. Morgan Stanley set a $60.00 target price on shares of SS&C Technologies and gave the company a “buy” rating in a report on Friday, April 27th. Zacks Investment Research cut shares of SS&C Technologies from a “buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a report on Saturday, January 20th. BidaskClub upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 27th. JPMorgan Chase assumed coverage on shares of SS&C Technologies in a research report on Tuesday, May 1st. They set an “overweight” rating and a $60.00 price target for the company. Finally, ValuEngine upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. SS&C Technologies currently has a consensus rating of “Buy” and an average price target of $54.89.
SS&C Technologies opened at $49.52 on Friday, according to Marketbeat. The firm has a market cap of $11.56 billion, a PE ratio of 27.66, a PEG ratio of 1.58 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. SS&C Technologies has a one year low of $48.77 and a one year high of $49.14.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, May 1st. The technology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The firm had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $433.77 million. SS&C Technologies had a net margin of 19.65% and a return on equity of 15.43%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. sell-side analysts forecast that SS&C Technologies will post 2.27 EPS for the current fiscal year.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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