Citigroup Inc. Sells 11,077 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Citigroup Inc. decreased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 140,470 shares of the technology company’s stock after selling 11,077 shares during the period. Citigroup Inc.’s holdings in SS&C Technologies were worth $10,424,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after purchasing an additional 100,197 shares in the last quarter. National Pension Service grew its holdings in SS&C Technologies by 5.4% during the third quarter. National Pension Service now owns 530,166 shares of the technology company’s stock worth $39,344,000 after purchasing an additional 27,336 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SS&C Technologies during the 2nd quarter worth approximately $1,661,000. Jackson Square Capital LLC bought a new position in shares of SS&C Technologies in the third quarter valued at about $1,612,000. Finally, Burgundy Asset Management Ltd. lifted its position in SS&C Technologies by 4.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after acquiring an additional 201,632 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Price Performance

NASDAQ:SSNC opened at $77.36 on Friday. SS&C Technologies Holdings, Inc. has a 52-week low of $55.57 and a 52-week high of $77.53. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 27.73 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day moving average of $74.20 and a 200 day moving average of $69.67.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $1.04 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.29%. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

Insiders Place Their Bets

In related news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,000 shares of company stock worth $16,560,660 over the last three months. Company insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the subject of a number of recent research reports. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James increased their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, DA Davidson reaffirmed a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.