Marks Group Wealth Management Inc Cuts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Marks Group Wealth Management Inc decreased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 110,837 shares of the technology company’s stock after selling 3,627 shares during the quarter. Marks Group Wealth Management Inc’s holdings in SS&C Technologies were worth $8,399,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CENTRAL TRUST Co bought a new position in shares of SS&C Technologies during the fourth quarter valued at $65,000. Global X Japan Co. Ltd. boosted its stake in SS&C Technologies by 193.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 871 shares of the technology company’s stock worth $66,000 after purchasing an additional 574 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in SS&C Technologies during the 3rd quarter valued at about $68,000. Versant Capital Management Inc increased its stake 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 purchasing an additional 233 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in SS&C Technologies in the third quarter worth about $73,000. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling at SS&C Technologies

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

Analysts Set New Price Targets

Several brokerages have commented on SSNC. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. UBS Group lifted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. DA Davidson upped their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Monday. Raymond James raised their price target on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies has an average rating of “Buy” and an average price target of $89.50.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $86.71 on Wednesday. The firm’s 50 day moving average price is $78.10 and its 200-day moving average price is $75.32. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $21.48 billion, a PE ratio of 28.90 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a twelve month low of $59.53 and a twelve month high of $87.54.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share 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%. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 5.26 EPS for the current year.

SS&C Technologies Announces Dividend

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

SS&C Technologies Profile

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.