6,648 Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Purchased by Allstate Corp

Allstate Corp acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 4th quarter, HoldingsChannel reports. The firm acquired 6,648 shares of the technology company’s stock, valued at approximately $504,000.

A number of other hedge funds also recently added to or reduced their stakes in SSNC. Old West Investment Management LLC lifted its holdings in shares of SS&C Technologies by 19.1% during the third quarter. Old West Investment Management LLC now owns 111,784 shares of the technology company’s stock worth $8,295,000 after purchasing an additional 17,893 shares during the period. Bank of Montreal Can lifted its stake in shares of SS&C Technologies by 0.7% in the 3rd quarter. Bank of Montreal Can now owns 111,497 shares of the technology company’s stock worth $8,242,000 after acquiring an additional 782 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of SS&C Technologies by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 23,397 shares of the technology company’s stock valued at $1,736,000 after acquiring an additional 624 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of SS&C Technologies by 79.3% during the third quarter. BNP Paribas Financial Markets now owns 126,667 shares of the technology company’s stock worth $9,400,000 after acquiring an additional 56,011 shares during the period. Finally, Townsquare Capital LLC acquired a new position in shares of SS&C Technologies during the third quarter worth about $253,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Down 0.6 %

SS&C Technologies stock opened at $83.00 on Wednesday. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of 27.67 and a beta of 1.36. The stock’s fifty day moving average is $84.30 and its two-hundred day moving average is $78.42. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating 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%. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

SSNC has been the topic of a number of analyst reports. UBS Group lifted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday, February 3rd. DA Davidson lifted their price target on SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Raymond James raised their target price on 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 upped 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 note on Friday, February 7th. Five research 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 presently has a consensus rating of “Buy” and an average target price of $97.50.

Insider Activity at SS&C Technologies

In related news, SVP Jason Douglas White sold 71,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. The trade was a 91.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm’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 sale, the director now directly 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 owned by corporate insiders.

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.