Heron Bay Capital Management Lowers Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Heron Bay Capital Management trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 256,284 shares of the technology company’s stock after selling 24,142 shares during the quarter. SS&C Technologies makes up about 4.1% of Heron Bay Capital Management’s investment portfolio, making the stock its 6th largest holding. Heron Bay Capital Management’s holdings in SS&C Technologies were worth $19,421,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in SS&C Technologies during the fourth quarter valued at about $39,000. Parkside Financial Bank & Trust lifted its position in shares of SS&C Technologies by 76.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after buying an additional 229 shares in the last quarter. Financial Perspectives Inc bought a new position in shares of SS&C Technologies during the 4th quarter valued at approximately $51,000. Rialto Wealth Management LLC purchased a new stake in SS&C Technologies in the 4th quarter worth approximately $64,000. Finally, CENTRAL TRUST Co purchased a new position in SS&C Technologies during the fourth quarter valued at approximately $65,000. 96.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. DA Davidson upped their price objective on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Raymond James lifted their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Buy” and an average price target of $97.50.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $82.35 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a twelve month low of $59.63 and a twelve month high of $89.73. The company’s 50-day moving average price is $83.61 and its 200-day moving average price is $77.90. The company has a market cap of $20.30 billion, a PE ratio of 27.45 and a beta of 1.36.

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, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 1.21%. SS&C Technologies’s payout ratio is 33.33%.

Insider Buying and Selling

In other news, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction that occurred 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 owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This represents a 91.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total value of $2,032,970.00. Following the sale, the director now directly owns 23,200 shares of the company’s stock, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by corporate insiders.

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.