Principal Financial Group Inc. Sells 2,039 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Principal Financial Group Inc. decreased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,952 shares of the technology company’s stock after selling 2,039 shares during the period. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new position in SS&C Technologies in the second quarter valued at approximately $35,000. Benjamin Edwards Inc. grew its holdings in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares during the period. Versant Capital Management Inc raised its position in shares of SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at $47,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 45.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The trade was a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada upped their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Raymond James lifted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. DA Davidson restated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Up 1.3 %

SS&C Technologies stock opened at $76.12 on Friday. The company has a 50 day moving average of $74.11 and a 200-day moving average of $69.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a twelve month low of $55.33 and a twelve month high of $77.02. The stock has a market capitalization of $18.85 billion, a PE ratio of 27.28 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $1.04 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

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.