Sumitomo Mitsui Trust Group Inc. Sells 38,963 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Group Inc. cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 486,234 shares of the technology company’s stock after selling 38,963 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in SS&C Technologies were worth $36,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SSNC. CENTRAL TRUST Co bought a new stake in shares of SS&C Technologies in the fourth quarter worth approximately $65,000. Capital Performance Advisors LLP bought a new stake in shares of SS&C Technologies in the third quarter worth approximately $68,000. Versant Capital Management Inc grew its stake in shares of SS&C Technologies by 32.5% in the fourth quarter. Versant Capital Management Inc now owns 949 shares of the technology company’s stock worth $72,000 after acquiring an additional 233 shares during the period. Brooklyn Investment Group bought a new stake in shares of SS&C Technologies in the third quarter worth approximately $73,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of SS&C Technologies in the third quarter worth approximately $89,000. 96.95% of the stock is currently owned by institutional investors.

Insider Transactions at SS&C Technologies

In related news, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the sale, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,000 shares of company stock valued at $34,461,478. 15.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SSNC has been the topic of a number of research reports. DA Davidson raised their price objective on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC raised their price objective on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James raised their price objective on shares of SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a report on Friday, February 7th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $89.50.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $86.71 on Wednesday. SS&C Technologies Holdings, Inc. has a 1-year low of $59.53 and a 1-year high of $87.54. The firm’s 50 day simple moving average is $78.10 and its two-hundred day simple moving average is $75.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $21.48 billion, a P/E ratio of 28.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Research analysts expect that SS&C Technologies Holdings, Inc. will post 5.26 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

SS&C Technologies Company Profile

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.