Rockefeller Capital Management L.P. Reduces Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Rockefeller Capital Management L.P. decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,728 shares of the technology company’s stock after selling 11,716 shares during the period. Rockefeller Capital Management L.P.’s holdings in SS&C Technologies were worth $868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SSNC. Innealta Capital LLC bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies in the second quarter worth $35,000. Benjamin Edwards Inc. boosted its stake in SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after buying an additional 204 shares during the period. 1620 Investment Advisors Inc. bought a new position in SS&C Technologies during the second quarter valued at $47,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of SS&C Technologies in the third quarter valued at $68,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SSNC. Raymond James upped their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. DA Davidson restated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada boosted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Down 0.5 %

Shares of SS&C Technologies stock opened at $76.12 on Monday. SS&C Technologies Holdings, Inc. has a 1 year low of $56.62 and a 1 year high of $77.69. 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 cap of $18.85 billion, a price-to-earnings ratio of 27.28 and a beta of 1.38. The firm’s 50-day moving average is $74.48 and its two-hundred day moving average is $70.38.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. As a group, research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s payout ratio is currently 35.84%.

Insider Buying and Selling at SS&C Technologies

In other news, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The trade was a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,000 shares of company stock worth $16,560,660 over the last quarter. 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.