Pekin Hardy Strauss Inc. Lowers Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pekin Hardy Strauss Inc. trimmed its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 72,521 shares of the technology company’s stock after selling 6,993 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $5,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of SS&C Technologies during the 2nd quarter valued at $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the second quarter valued at about $35,000. Benjamin Edwards Inc. lifted its position in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of SS&C Technologies during the second quarter worth about $47,000. Institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

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

SS&C Technologies Trading Up 1.3 %

SSNC opened at $76.12 on Friday. The stock has a 50-day moving average of $74.11 and a 200 day moving average of $69.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 12 month low of $55.33 and a 12 month high of $77.02. The firm has a market cap of $18.85 billion, a P/E ratio of 27.28 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s 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 completion of the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. The trade was a 45.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value 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. The trade was a 28.04 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is owned by corporate insiders.

About SS&C Technologies

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.