SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNCGet Rating) by 84.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,697 shares of the technology company’s stock after selling 473,739 shares during the quarter. Bank of Montreal Can’s holdings in SS&C Technologies were worth $6,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SSNC. Select Equity Group L.P. boosted its holdings in SS&C Technologies by 34.9% in the fourth quarter. Select Equity Group L.P. now owns 15,734,073 shares of the technology company’s stock valued at $1,289,879,000 after purchasing an additional 4,069,495 shares in the last quarter. Norges Bank acquired a new position in SS&C Technologies in the fourth quarter valued at approximately $187,333,000. Pzena Investment Management LLC boosted its holdings in SS&C Technologies by 69.6% in the first quarter. Pzena Investment Management LLC now owns 4,861,235 shares of the technology company’s stock valued at $364,690,000 after purchasing an additional 1,995,501 shares in the last quarter. Oldfield Partners LLP acquired a new position in SS&C Technologies in the first quarter valued at approximately $91,911,000. Finally, Diamond Hill Capital Management Inc. boosted its holdings in SS&C Technologies by 26.9% in the first quarter. Diamond Hill Capital Management Inc. now owns 4,286,689 shares of the technology company’s stock valued at $321,587,000 after purchasing an additional 908,732 shares in the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SSNC. Credit Suisse Group reduced their price objective on SS&C Technologies from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Needham & Company LLC reduced their price objective on SS&C Technologies from $92.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. UBS Group reduced their price objective on SS&C Technologies from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Citigroup reduced their price objective on SS&C Technologies from $86.00 to $75.00 in a research note on Tuesday, July 26th. Finally, William Blair reiterated an “outperform” rating on shares of SS&C Technologies in a research note on Monday, July 25th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $79.50.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $55.90 on Thursday. The business has a 50 day simple moving average of $59.45 and a 200-day simple moving average of $65.08. The stock has a market capitalization of $14.26 billion, a PE ratio of 20.78 and a beta of 1.46. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 1.11. SS&C Technologies Holdings, Inc. has a 12 month low of $54.57 and a 12 month high of $84.85.

SS&C Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, August 31st. SS&C Technologies’s payout ratio is 29.74%.

Insiders Place Their Bets

In other SS&C Technologies news, COO Rahul Kanwar sold 46,700 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $63.06, for a total value of $2,944,902.00. Following the completion of the transaction, the chief operating officer now owns 50,000 shares in the company, valued at $3,153,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is currently owned by company insiders.

SS&C Technologies Company Profile

(Get Rating)

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.

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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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