Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,248 shares of the technology company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSNC. Truist Financial Corp lifted its position in SS&C Technologies by 82.0% during the fourth quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock valued at $1,446,000 after purchasing an additional 8,598 shares during the period. Atria Wealth Solutions Inc. acquired a new position in SS&C Technologies during the fourth quarter valued at $200,000. Global Retirement Partners LLC lifted its position in SS&C Technologies by 11.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock valued at $107,000 after purchasing an additional 149 shares during the period. Concurrent Investment Advisors LLC lifted its position in SS&C Technologies by 8.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,220 shares of the technology company’s stock valued at $244,000 after purchasing an additional 245 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in SS&C Technologies by 20.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,297 shares of the technology company’s stock valued at $98,000 after purchasing an additional 222 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 25th. DA Davidson cut their price objective on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 28th. Wall Street Zen raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Raymond James Financial cut their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $91.86.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 12,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director now directly owns 12,476 shares in the company, valued at approximately $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan E. Michael purchased 2,700 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the transaction, the director now directly owns 72,776 shares of the company’s stock, valued at $5,496,771.28. The trade was a 3.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company’s stock.

SS&C Technologies Stock Up 0.8%

SSNC stock opened at $81.43 on Wednesday. The stock has a market capitalization of $20.09 billion, a P/E ratio of 25.29 and a beta of 1.24. The firm has a 50-day simple moving average of $78.68 and a 200-day simple moving average of $79.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00. SS&C Technologies Holdings, Inc. has a 52 week low of $61.13 and a 52 week high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, April 24th. The technology company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Equities analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. SS&C Technologies’s dividend payout ratio is currently 31.06%.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.