Bank of America Corp DE cut its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 839,416 shares of the technology company’s stock after selling 81,275 shares during the quarter. Bank of America Corp DE owned about 0.33% of SS&C Technologies worth $37,867,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SSNC. Prime Capital Investment Advisors LLC acquired a new stake in shares of SS&C Technologies during the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in shares of SS&C Technologies during the 4th quarter worth about $36,000. CWM LLC raised its position in shares of SS&C Technologies by 115.6% during the 4th quarter. CWM LLC now owns 873 shares of the technology company’s stock worth $39,000 after acquiring an additional 468 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of SS&C Technologies during the 4th quarter worth about $49,000. Finally, Csenge Advisory Group acquired a new stake in shares of SS&C Technologies during the 3rd quarter worth about $81,000. Institutional investors and hedge funds own 83.99% of the company’s stock.
In other news, CFO Patrick J. Pedonti sold 157,500 shares of SS&C Technologies stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the sale, the chief financial officer now owns 57,500 shares of the company’s stock, valued at $3,416,075. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.50% of the stock is owned by insiders.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, February 14th. The technology company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SS&C Technologies had a return on equity of 16.27% and a net margin of 3.01%. The business’s revenue for the quarter was up 157.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.61 EPS for the current year.
A number of research analysts recently issued reports on SSNC shares. BidaskClub upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Friday, December 28th. Raymond James dropped their price target on SS&C Technologies from $68.00 to $67.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded SS&C Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. UBS Group lowered their target price on SS&C Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 8th. Finally, Buckingham Research assumed coverage on SS&C Technologies in a research note on Thursday, January 24th. They issued a “buy” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and four have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.60.
About SS&C Technologies
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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