SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Down 14.4% in February

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,550,000 shares, a decrease of 14.4% from the February 13th total of 2,980,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.2% of the shares of the company are short sold.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the sale, the director now directly owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $570,411.52. The trade was a 91.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in SS&C Technologies during the fourth quarter worth $39,000. Parkside Financial Bank & Trust increased its position in SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after buying an additional 229 shares in the last quarter. Colonial Trust Co SC increased its position in SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after buying an additional 390 shares in the last quarter. True Wealth Design LLC increased its position in SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock worth $42,000 after buying an additional 342 shares in the last quarter. Finally, Financial Perspectives Inc purchased a new stake in shares of SS&C Technologies in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $82.85 on Thursday. SS&C Technologies has a 1-year low of $59.63 and a 1-year high of $89.73. The company has a market capitalization of $20.42 billion, a P/E ratio of 27.62 and a beta of 1.36. The business has a 50 day moving average price of $83.33 and a 200 day moving average price of $77.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Sell-side analysts expect that SS&C Technologies will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Monday, March 3rd. SS&C Technologies’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SSNC shares. DA Davidson raised their price target on SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Monday, February 10th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price target on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $94.00 in a report on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $97.50.

SS&C Technologies Company 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.