Korea Investment CORP Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Korea Investment CORP decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 11.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 252,054 shares of the technology company’s stock after selling 32,060 shares during the period. Korea Investment CORP’s holdings in SS&C Technologies were worth $19,101,000 at the end of the most recent reporting period.

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

SS&C Technologies Trading Down 2.0 %

Shares of NASDAQ:SSNC opened at $81.98 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 52-week low of $59.63 and a 52-week high of $89.73. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 27.33 and a beta of 1.36. The business has a 50-day moving average price of $84.15 and a 200-day moving average price of $78.25.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating 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%. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

SSNC has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $94.00 in a report on Monday, February 3rd. Needham & Company LLC lifted their price target 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. Royal Bank of Canada increased their price objective on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Raymond James upped their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 7th. Finally, UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Buy” and an average target price of $97.50.

Insider Transactions at SS&C Technologies

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 completion of the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $570,411.52. This represents a 91.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

About SS&C Technologies

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.