Geneva Capital Management LLC Reduces Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Geneva Capital Management LLC reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 84,109 shares of the technology company’s stock after selling 10,839 shares during the period. Geneva Capital Management LLC’s holdings in SS&C Technologies were worth $6,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of SS&C Technologies by 26.4% during the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after acquiring an additional 6,721 shares during the period. Truist Financial Corp grew its holdings 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. State Street Corp increased its position in SS&C Technologies by 2.2% in the third quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock worth $417,370,000 after buying an additional 121,223 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in shares of SS&C Technologies by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock worth $25,034,000 after buying an additional 11,077 shares during the period. Finally, Benson Investment Management Company Inc. bought a new position in shares of SS&C Technologies in the fourth quarter worth about $5,578,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Needham & Company LLC increased their target price 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. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. DA Davidson upped their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $97.50.

SS&C Technologies Stock Performance

SSNC opened at $84.57 on Friday. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 28.19 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. 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 company has a fifty day moving average of $82.02 and a 200 day moving average of $77.19.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.18%. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Insider Activity at SS&C Technologies

In related news, CEO William C. Stone sold 132,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,446,744,613.10. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $570,411.52. The trade was a 91.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,700 shares of company stock valued at $18,547,125. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies 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.