Assetmark Inc. Raises Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Assetmark Inc. raised its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,722 shares of the technology company’s stock after acquiring an additional 10,324 shares during the period. Assetmark Inc.’s holdings in SS&C Technologies were worth $4,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of SS&C Technologies by 26.4% during the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after acquiring an additional 6,721 shares in the last quarter. Truist Financial Corp raised its holdings in SS&C Technologies by 82.0% during the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock valued at $1,446,000 after buying an additional 8,598 shares during the period. State Street Corp raised its holdings in SS&C Technologies by 2.2% during the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after buying an additional 121,223 shares during the period. ZWJ Investment Counsel Inc. raised its holdings in SS&C Technologies by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock valued at $25,034,000 after buying an additional 11,077 shares during the period. Finally, Benson Investment Management Company Inc. purchased a new stake in SS&C Technologies during the 4th quarter valued at $5,578,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction 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 transaction, the director now owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. This represents a 49.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William C. Stone sold 132,700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,446,744,613.10. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,700 shares of company stock valued at $18,547,125. 15.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group increased 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. Royal Bank of Canada increased 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. Raymond James increased their price target 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. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and increased 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.com, the company has an average rating of “Buy” and a consensus target price of $97.50.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $85.86 on Friday. The stock’s fifty day moving average is $82.37 and its two-hundred day moving average is $77.36. The company has a market capitalization of $21.16 billion, a PE ratio of 28.62 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 52 week low of $59.63 and a 52 week high of $89.73.

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, 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%. As a group, analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, March 3rd. SS&C Technologies’s payout ratio is 33.33%.

About SS&C Technologies

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.