Principal Financial Group Inc. Sells 8,490 Shares of SS&C Technologies Holdings, Inc. (SSNC)

Principal Financial Group Inc. cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,428 shares of the technology company’s stock after selling 8,490 shares during the quarter. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $1,057,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV grew its stake in shares of SS&C Technologies by 1.3% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 17,942 shares of the technology company’s stock valued at $809,000 after acquiring an additional 225 shares during the period. State of Alaska Department of Revenue boosted its stake in SS&C Technologies by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 25,225 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 230 shares during the period. Nicolet Bankshares Inc. boosted its stake in SS&C Technologies by 5.6% in the 4th quarter. Nicolet Bankshares Inc. now owns 4,680 shares of the technology company’s stock worth $211,000 after purchasing an additional 250 shares during the period. BB&T Securities LLC boosted its stake in SS&C Technologies by 5.0% in the 4th quarter. BB&T Securities LLC now owns 6,838 shares of the technology company’s stock worth $308,000 after purchasing an additional 327 shares during the period. Finally, Alps Advisors Inc. boosted its stake in SS&C Technologies by 5.0% in the 4th quarter. Alps Advisors Inc. now owns 9,432 shares of the technology company’s stock worth $425,000 after purchasing an additional 448 shares during the period. Institutional investors own 83.99% of the company’s stock.

Several research analysts have weighed in on the company. DA Davidson upped their price target on SS&C Technologies from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Saturday, February 23rd. UBS Group upped their price target on SS&C Technologies from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, Raymond James dropped their price target on SS&C Technologies from $68.00 to $67.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and four have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.60.

In other news, CFO Patrick J. Pedonti sold 157,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total transaction of $9,357,075.00. Following the sale, 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 can be accessed through this hyperlink. 14.50% of the stock is owned by corporate insiders.

Shares of SSNC opened at $64.21 on Friday. The company has a market cap of $16.19 billion, a PE ratio of 24.51, a PEG ratio of 1.48 and a beta of 1.22. SS&C Technologies Holdings, Inc. has a 1 year low of $40.96 and a 1 year high of $66.30. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.07 and a current ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 14th. The technology company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $1.13 billion for 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 company’s revenue for the quarter was up 157.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. As a group, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 3.61 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This article was originally posted by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/principal-financial-group-inc-sells-8490-shares-of-ssc-technologies-holdings-inc-ssnc.html.

SS&C Technologies Company 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.

Further Reading: How are institutional investors different from individual investors?

Want to see what other hedge funds are holding SSNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SS&C Technologies Holdings, Inc. (NASDAQ:SSNC).

Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.