Old West Investment Management LLC Cuts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Old West Investment Management LLC decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.0% in the 4th quarter, HoldingsChannel reports. The firm owned 102,871 shares of the technology company’s stock after selling 8,913 shares during the quarter. SS&C Technologies makes up 3.2% of Old West Investment Management LLC’s holdings, making the stock its 14th biggest holding. Old West Investment Management LLC’s holdings in SS&C Technologies were worth $7,796,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in shares of SS&C Technologies in the fourth quarter worth $39,000. Parkside Financial Bank & Trust grew its stake in SS&C Technologies by 76.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after purchasing an additional 229 shares in the last quarter. Financial Perspectives Inc purchased a new stake in SS&C Technologies during the 4th quarter worth about $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies in the 4th quarter valued at about $64,000. Finally, CENTRAL TRUST Co acquired a new position in shares of SS&C Technologies during the fourth quarter worth about $65,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. DA Davidson raised their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Monday, February 10th. Raymond James lifted their price objective on shares of 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. Royal Bank of Canada increased their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, UBS Group boosted their target price on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $97.50.

SS&C Technologies Stock Down 7.0 %

SS&C Technologies stock opened at $74.35 on Friday. The company has a market capitalization of $18.33 billion, a P/E ratio of 24.78 and a beta of 1.36. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The stock has a 50-day simple moving average of $84.27 and a 200-day simple moving average of $78.45.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. SS&C Technologies’s dividend payout ratio is presently 33.33%.

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.