State Treasurer State of Michigan Takes $27.79 Million Position in SS&C Technologies Holdings, Inc. (SSNC)

State Treasurer State of Michigan bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 436,300 shares of the technology company’s stock, valued at approximately $27,788,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in SS&C Technologies by 2.9% during the first quarter. Janus Henderson Group PLC now owns 19,743,165 shares of the technology company’s stock worth $1,257,446,000 after buying an additional 558,026 shares in the last quarter. Vanguard Group Inc grew its position in SS&C Technologies by 1.0% during the third quarter. Vanguard Group Inc now owns 17,575,740 shares of the technology company’s stock worth $998,830,000 after buying an additional 176,195 shares in the last quarter. BlackRock Inc. grew its position in SS&C Technologies by 1.1% during the fourth quarter. BlackRock Inc. now owns 11,487,451 shares of the technology company’s stock worth $518,199,000 after buying an additional 124,435 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in SS&C Technologies by 37.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,847,958 shares of the technology company’s stock worth $173,581,000 after buying an additional 1,042,182 shares in the last quarter. Finally, Cantillon Capital Management LLC grew its position in SS&C Technologies by 37.1% during the fourth quarter. Cantillon Capital Management LLC now owns 3,561,949 shares of the technology company’s stock worth $160,679,000 after buying an additional 963,878 shares in the last quarter. Institutional investors own 85.02% of the company’s stock.

In other news, CFO Patrick J. Pedonti sold 157,500 shares of SS&C Technologies 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 owns 57,500 shares in the company, valued at $3,416,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow bought 17,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $59.76 per share, with a total value of $1,015,920.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,270,880. The disclosure for this purchase can be found here. Insiders bought 17,159 shares of company stock valued at $1,025,569 in the last quarter. 14.50% of the stock is currently owned by corporate insiders.

NASDAQ SSNC traded down $1.67 during trading on Monday, reaching $57.19. 14,165 shares of the company traded hands, compared to its average volume of 1,621,247. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.70 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 $67.73.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Tuesday, April 30th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. SS&C Technologies had a net margin of 3.20% and a return on equity of 17.19%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. SS&C Technologies’s quarterly revenue was up 164.7% compared to the same quarter last year. On average, analysts predict that SS&C Technologies Holdings, Inc. will post 3.6 earnings per share for the current year.

SSNC has been the topic of a number of recent research reports. Jefferies Financial Group downgraded SS&C Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $58.00 to $64.00 in a report on Wednesday, May 1st. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $75.00 price objective (up from $70.00) on shares of SS&C Technologies in a report on Friday, February 15th. Buckingham Research initiated coverage on SS&C Technologies in a report on Thursday, January 24th. They set a “buy” rating and a $65.00 price objective on the stock. BidaskClub raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on SS&C Technologies and gave the company a “buy” rating in a report on Friday, February 15th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $70.00.

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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.

Further Reading: Strike Price

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

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