Citigroup Inc. Sells 11,077 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Citigroup Inc. lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,470 shares of the technology company’s stock after selling 11,077 shares during the period. Citigroup Inc. owned approximately 0.06% of SS&C Technologies worth $10,424,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of SS&C Technologies by 5.3% in the first quarter. California State Teachers Retirement System now owns 433,572 shares of the technology company’s stock worth $27,909,000 after acquiring an additional 21,641 shares during the period. Tidal Investments LLC grew its holdings in SS&C Technologies by 28.5% in the 1st quarter. Tidal Investments LLC now owns 22,975 shares of the technology company’s stock valued at $1,479,000 after buying an additional 5,100 shares in the last quarter. Comerica Bank increased its position in SS&C Technologies by 24.0% during the first quarter. Comerica Bank now owns 50,531 shares of the technology company’s stock worth $3,253,000 after purchasing an additional 9,764 shares during the last quarter. PGGM Investments raised its position in shares of SS&C Technologies by 3.1% during the 1st quarter. PGGM Investments now owns 44,694 shares of the technology company’s stock valued at $2,877,000 after buying an additional 1,336 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in SS&C Technologies in the first quarter valued at $343,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Up 0.3 %

Shares of SS&C Technologies stock opened at $77.36 on Friday. The business has a 50-day moving average price of $74.20 and a 200 day moving average price of $69.67. SS&C Technologies Holdings, Inc. has a fifty-two week low of $55.57 and a fifty-two week high of $77.53. The firm has a market cap of $19.16 billion, a P/E ratio of 27.73 and a beta of 1.39. 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 (NASDAQ:SSNC) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

Analysts Set New Price Targets

A number of research firms have commented on SSNC. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reaffirmed a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Raymond James upped their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Insider Activity at SS&C Technologies

In other news, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,000 shares of company stock valued at $16,560,660. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Profile

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.