Russell Investments Group Ltd. Has $54.59 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Russell Investments Group Ltd. boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 94.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 720,364 shares of the technology company’s stock after acquiring an additional 349,820 shares during the quarter. Russell Investments Group Ltd.’s holdings in SS&C Technologies were worth $54,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SSNC. Payden & Rygel acquired a new position in shares of SS&C Technologies in the 4th quarter valued at $7,503,000. Envestnet Asset Management Inc. increased its holdings in SS&C Technologies by 34.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 559,444 shares of the technology company’s stock valued at $42,395,000 after purchasing an additional 144,218 shares during the last quarter. Katamaran Capital LLP bought a new position in SS&C Technologies during the fourth quarter worth about $3,564,000. Resona Asset Management Co. Ltd. bought a new position in SS&C Technologies during the fourth quarter worth about $4,736,000. Finally, Wells Fargo & Company MN grew its position in shares of SS&C Technologies by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 646,126 shares of the technology company’s stock worth $48,963,000 after buying an additional 64,565 shares during the period. 96.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SSNC shares. DA Davidson lifted their price objective on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. UBS Group upped their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Finally, Raymond James increased their price target on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $97.50.

SS&C Technologies Stock Down 7.0 %

SSNC stock opened at $74.35 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $18.33 billion, a P/E ratio of 24.78 and a beta of 1.36. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The business has a 50-day moving average of $84.27 and a 200-day moving average of $78.50.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling

In other SS&C Technologies news, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This trade represents a 91.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 23,200 shares in the company, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by corporate insiders.

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.