SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 40.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,996 shares of the technology company’s stock after selling 16,885 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SS&C Technologies were worth $1,528,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Headinvest LLC acquired a new position in shares of SS&C Technologies during the third quarter valued at approximately $26,000. Operose Advisors LLC acquired a new position in shares of SS&C Technologies during the third quarter valued at approximately $34,000. Cary Street Partners Investment Advisory LLC acquired a new position in SS&C Technologies in the third quarter worth approximately $53,000. Fortis Group Advisors LLC acquired a new position in SS&C Technologies in the third quarter worth approximately $53,000. Finally, Principal Securities Inc. acquired a new position in SS&C Technologies in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SSNC. Jefferies Financial Group lifted their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. DA Davidson restated a “buy” rating and issued a $78.00 price target on shares of SS&C Technologies in a research report on Tuesday, April 16th. TheStreet upgraded shares of SS&C Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC lifted their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 5,000 shares of SS&C Technologies stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $63.14, for a total transaction of $315,700.00. Following the completion of the sale, the director now owns 38,000 shares of the company’s stock, valued at approximately $2,399,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 32,500 shares of company stock valued at $2,027,750 in the last quarter. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Up 0.2 %

SS&C Technologies stock opened at $62.25 on Friday. The company has a 50 day moving average price of $61.89 and a 200 day moving average price of $61.72. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $65.86. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 24.80 and a beta of 1.37.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is currently 38.25%.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.