Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 944,636 shares of the technology company’s stock after selling 120,644 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.37% of SS&C Technologies worth $53,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. CSat Investment Advisory L.P. grew its stake in SS&C Technologies by 14.1% during the 1st quarter. CSat Investment Advisory L.P. now owns 1,559 shares of the technology company’s stock worth $68,000 after buying an additional 193 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in SS&C Technologies by 3.2% during the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 6,210 shares of the technology company’s stock valued at $272,000 after purchasing an additional 195 shares during the last quarter. Telemus Capital LLC grew its stake in SS&C Technologies by 0.3% during the 2nd quarter. Telemus Capital LLC now owns 67,570 shares of the technology company’s stock valued at $3,814,000 after purchasing an additional 220 shares during the last quarter. Autus Asset Management LLC grew its stake in SS&C Technologies by 0.3% during the 2nd quarter. Autus Asset Management LLC now owns 80,097 shares of the technology company’s stock valued at $4,523,000 after purchasing an additional 256 shares during the last quarter. Finally, Bellevue Asset Management LLC grew its stake in SS&C Technologies by 65.1% during the 1st quarter. Bellevue Asset Management LLC now owns 720 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.

Shares of SS&C Technologies stock opened at $57.50 on Friday. The business has a 50 day simple moving average of $56.68 and a two-hundred day simple moving average of $55.55. SS&C Technologies Holdings, Inc. has a 12 month low of $29.51 and a 12 month high of $66.74. The stock has a market capitalization of $14.73 billion, a P/E ratio of 30.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.14. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.66 EPS for the current fiscal year.

Several analysts have weighed in on SSNC shares. Morgan Stanley dropped their price target on SS&C Technologies from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Credit Suisse Group upped their target price on SS&C Technologies from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. ValuEngine upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Royal Bank of Canada restated a “buy” rating and issued a $68.00 target price on shares of SS&C Technologies in a research note on Thursday. Finally, BidaskClub upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $66.75.

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

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