Carret Asset Management LLC Sells 409 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Carret Asset Management LLC trimmed its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,091 shares of the technology company’s stock after selling 409 shares during the quarter. Carret Asset Management LLC’s holdings in SS&C Technologies were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in SS&C Technologies by 16.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company’s stock valued at $67,000 after acquiring an additional 123 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in SS&C Technologies by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock valued at $475,000 after acquiring an additional 137 shares during the last quarter. Global Retirement Partners LLC increased its stake in SS&C Technologies by 11.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock valued at $107,000 after acquiring an additional 149 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SS&C Technologies by 15.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,163 shares of the technology company’s stock valued at $88,000 after acquiring an additional 158 shares during the last quarter. Finally, Legacy Capital Group California Inc. increased its stake in SS&C Technologies by 5.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 3,003 shares of the technology company’s stock valued at $228,000 after acquiring an additional 164 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Insider Activity at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 23,000 shares of the company’s 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 transaction, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at $570,411.52. This represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

SSNC has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. DA Davidson boosted their target price on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Needham & Company LLC boosted their target price 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. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, SS&C Technologies has an average rating of “Buy” and an average target price of $97.50.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $81.41 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 stock has a market cap of $20.07 billion, a price-to-earnings ratio of 27.14 and a beta of 1.36. The company’s fifty day moving average is $82.84 and its 200 day moving average is $77.55.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (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%. Sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 annualized dividend and a yield of 1.23%. SS&C Technologies’s payout ratio is 33.33%.

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.