Sumitomo Mitsui Trust Group Inc. Sells 38,963 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 486,234 shares of the technology company’s stock after selling 38,963 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of SS&C Technologies worth $36,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SSNC. CENTRAL TRUST Co purchased a new stake in SS&C Technologies during the 4th quarter valued at $65,000. Capital Performance Advisors LLP purchased a new stake in SS&C Technologies during the 3rd quarter valued at $68,000. Versant Capital Management Inc boosted its position in SS&C Technologies by 32.5% during the 4th quarter. Versant Capital Management Inc now owns 949 shares of the technology company’s stock valued at $72,000 after buying an additional 233 shares during the period. Brooklyn Investment Group purchased a new stake in SS&C Technologies during the 3rd quarter valued at $73,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in SS&C Technologies during the 3rd quarter valued at $89,000. 96.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SSNC has been the subject of several analyst reports. UBS Group increased 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 report on Monday, February 3rd. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Raymond James raised their target price 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. DA Davidson raised their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies has a consensus rating of “Buy” and a consensus price target of $89.50.

SS&C Technologies Stock Down 0.7 %

Shares of SS&C Technologies stock opened at $86.71 on Wednesday. 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 company has a 50-day moving average of $78.10 and a 200 day moving average of $75.32. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1 year low of $59.53 and a 1 year high of $87.54.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. As a group, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is owned by corporate insiders.

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.