Pekin Hardy Strauss Inc. Sells 7,775 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pekin Hardy Strauss Inc. decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 6.8% in the fourth quarter, Holdings Channel reports. The firm owned 106,014 shares of the technology company’s stock after selling 7,775 shares during the quarter. SS&C Technologies accounts for about 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 26th biggest position. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $6,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pzena Investment Management LLC raised its position in SS&C Technologies by 1.4% in the 3rd quarter. Pzena Investment Management LLC now owns 14,229,448 shares of the technology company’s stock worth $747,615,000 after buying an additional 197,934 shares during the last quarter. Boston Partners boosted its holdings in SS&C Technologies by 5.3% in the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock worth $455,894,000 after purchasing an additional 435,377 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in SS&C Technologies by 0.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,892,663 shares of the technology company’s stock valued at $414,681,000 after buying an additional 44,764 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of SS&C Technologies by 5.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,526,070 shares of the technology company’s stock worth $80,180,000 after acquiring an additional 77,551 shares during the period. Finally, Northern Trust Corp increased its position in SS&C Technologies by 5.4% during the third quarter. Northern Trust Corp now owns 1,471,747 shares of the technology company’s stock valued at $77,326,000 after acquiring an additional 75,440 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SSNC shares. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. Citigroup boosted their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Needham & Company LLC boosted their price target on SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group lifted their price objective on SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday. Finally, TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.20.

SS&C Technologies Price Performance

SS&C Technologies stock traded down $0.03 during midday trading on Tuesday, reaching $61.89. 1,186,755 shares of the stock traded hands, compared to its average volume of 973,383. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $65.86. The stock’s fifty day moving average is $62.75 and its 200-day moving average is $59.31. The stock has a market cap of $15.30 billion, a P/E ratio of 24.67 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.61 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s payout ratio is 38.25%.

About SS&C Technologies

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.