Congress Asset Management Co. MA Has $101.02 Million Position in SS&C Technologies Holdings, Inc. (SSNC)

Congress Asset Management Co. MA lowered its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.8% during the third quarter, HoldingsChannel.com reports. The fund owned 1,777,571 shares of the technology company’s stock after selling 15,018 shares during the period. SS&C Technologies accounts for 1.3% of Congress Asset Management Co. MA’s portfolio, making the stock its 15th largest holding. Congress Asset Management Co. MA’s holdings in SS&C Technologies were worth $101,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Squar Milner Financial Services LLC bought a new stake in SS&C Technologies during the second quarter worth about $108,000. Summit Trail Advisors LLC grew its stake in SS&C Technologies by 17,584.8% during the first quarter. Summit Trail Advisors LLC now owns 122,556 shares of the technology company’s stock worth $123,000 after buying an additional 121,863 shares during the last quarter. CENTRAL TRUST Co grew its stake in SS&C Technologies by 3,755.1% during the second quarter. CENTRAL TRUST Co now owns 3,778 shares of the technology company’s stock worth $196,000 after buying an additional 3,680 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in SS&C Technologies during the first quarter worth about $200,000. Finally, Dupont Capital Management Corp bought a new stake in SS&C Technologies during the second quarter worth about $207,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on SSNC shares. Deutsche Bank raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $72.00 in a research note on Monday, September 10th. Sandler O’Neill reaffirmed a “buy” rating and set a $62.00 price objective on shares of SS&C Technologies in a research note on Monday, July 23rd. Needham & Company LLC upped their price objective on shares of SS&C Technologies to $68.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research cut shares of SS&C Technologies from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Finally, DA Davidson cut shares of SS&C Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $60.00 in a research note on Friday, September 7th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.00.



Shares of SSNC stock traded down $2.04 during trading hours on Friday, reaching $49.29. 1,622,100 shares of the company were exchanged, compared to its average volume of 1,624,219. SS&C Technologies Holdings, Inc. has a fifty-two week low of $39.15 and a fifty-two week high of $60.97. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.62 and a beta of 1.18. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.63.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.07. SS&C Technologies had a net margin of 9.99% and a return on equity of 14.43%. The company had revenue of $908.50 million for the quarter, compared to analyst estimates of $903.63 million. During the same period in the prior year, the business earned $0.46 earnings per share. SS&C Technologies’s quarterly revenue was up 121.0% on a year-over-year basis. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 2.28 earnings per share for the current fiscal year.

About SS&C Technologies

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, 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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