Peregrine Capital Management LLC cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 656,349 shares of the technology company’s stock after selling 80,587 shares during the period. SS&C Technologies accounts for about 1.0% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Peregrine Capital Management LLC owned approximately 0.26% of SS&C Technologies worth $40,300,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in shares of SS&C Technologies during the second quarter worth approximately $17,951,000. Canada Pension Plan Investment Board raised its stake in shares of SS&C Technologies by 2,790.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,243 shares of the technology company’s stock worth $72,000 after buying an additional 1,200 shares during the last quarter. MML Investors Services LLC raised its stake in shares of SS&C Technologies by 37.0% during the second quarter. MML Investors Services LLC now owns 14,428 shares of the technology company’s stock worth $831,000 after buying an additional 3,900 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of SS&C Technologies by 24.2% during the second quarter. APG Asset Management N.V. now owns 12,300 shares of the technology company’s stock worth $622,000 after buying an additional 2,400 shares during the last quarter. Finally, United Capital Financial Advisers LLC bought a new stake in shares of SS&C Technologies during the second quarter worth approximately $715,000. 83.15% of the stock is owned by institutional investors.
SSNC has been the subject of a number of recent research reports. Credit Suisse Group boosted their price target on shares of SS&C Technologies from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Investment Research raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. set a $69.00 price target on shares of SS&C Technologies and gave the stock a “buy” rating in a research note on Friday, November 1st. Raymond James set a $65.00 price target on shares of SS&C Technologies and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada set a $70.00 price target on shares of SS&C Technologies and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. SS&C Technologies currently has an average rating of “Buy” and an average target price of $68.23.
NASDAQ SSNC traded up $0.96 during trading on Thursday, reaching $63.25. 1,364,525 shares of the stock traded hands, compared to its average volume of 1,554,094. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 2.30 and a beta of 1.31. The stock’s 50-day moving average price is $60.74 and its 200 day moving average price is $54.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.64. SS&C Technologies Holdings, Inc. has a fifty-two week low of $42.51 and a fifty-two week high of $67.73.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. SS&C Technologies had a net margin of 7.83% and a return on equity of 19.25%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.51 EPS for the current fiscal year.
In related news, CEO William C. Stone sold 255,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $58.84, for a total transaction of $15,004,200.00. Following the completion of the transaction, the chief executive officer now owns 31,931,624 shares in the company, valued at $1,878,856,756.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 142 shares of company stock valued at $8,373. Corporate insiders own 14.50% of the company’s stock.
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.
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