LPL Financial LLC raised its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 83.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,962 shares of the technology company’s stock after purchasing an additional 5,885 shares during the period. LPL Financial LLC’s holdings in SS&C Technologies were worth $585,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in SS&C Technologies by 34.4% during the third quarter. Wells Fargo & Company MN now owns 224,993 shares of the technology company’s stock valued at $12,786,000 after acquiring an additional 57,541 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in SS&C Technologies in the third quarter worth about $1,841,000. AXA lifted its stake in SS&C Technologies by 31.8% in the third quarter. AXA now owns 103,860 shares of the technology company’s stock worth $5,902,000 after acquiring an additional 25,030 shares during the period. Bank of New York Mellon Corp lifted its stake in SS&C Technologies by 54.6% in the third quarter. Bank of New York Mellon Corp now owns 2,858,968 shares of the technology company’s stock worth $162,477,000 after acquiring an additional 1,010,118 shares during the period. Finally, BlackRock Inc. lifted its stake in SS&C Technologies by 2.8% in the third quarter. BlackRock Inc. now owns 11,363,016 shares of the technology company’s stock worth $645,761,000 after acquiring an additional 312,983 shares during the period. 83.96% of the stock is currently owned by institutional investors.
In related news, CFO Patrick J. Pedonti sold 157,500 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the transaction, the chief financial officer now directly owns 57,500 shares of the company’s stock, valued at approximately $3,416,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.50% of the company’s stock.
SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 14th. The technology company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a net margin of 3.01% and a return on equity of 16.27%. SS&C Technologies’s revenue was up 157.8% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 3.6 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of SS&C Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research raised shares of SS&C Technologies from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Thursday, March 14th. BidaskClub raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. JPMorgan Chase & Co. set a $70.00 price target on shares of SS&C Technologies and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Royal Bank of Canada increased their price target on shares of SS&C Technologies to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and four have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.60.
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SS&C Technologies Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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