PNC Financial Services Group Inc. Decreases Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

PNC Financial Services Group Inc. lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,776 shares of the technology company’s stock after selling 1,063 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SS&C Technologies were worth $1,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SSNC. Toronto Dominion Bank raised its stake in shares of SS&C Technologies by 26.4% in the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after acquiring an additional 6,721 shares during the period. Truist Financial Corp raised its position in SS&C Technologies by 82.0% in the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock worth $1,446,000 after purchasing an additional 8,598 shares during the period. State Street Corp boosted its position in shares of SS&C Technologies by 2.2% during the third 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. grew its stake in shares of SS&C Technologies by 3.5% during the fourth 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 last quarter. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of SS&C Technologies in the fourth quarter worth approximately $5,578,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 1.8 %

SS&C Technologies stock opened at $81.41 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $20.07 billion, a P/E ratio of 27.14 and a beta of 1.36. The business has a fifty day moving average of $82.94 and a two-hundred day moving average of $77.63. SS&C Technologies Holdings, Inc. has a twelve month low of $59.63 and a twelve month high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. On average, analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 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, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. SS&C Technologies’s payout ratio is 33.33%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 in the company, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the sale, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $570,411.52. This represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SSNC. Raymond James upped their price objective on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 7th. Needham & Company LLC raised their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Finally, UBS Group increased their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. 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 an average rating of “Buy” and an average price target of $97.50.

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.