Allstate Corp Makes New Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Allstate Corp purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,648 shares of the technology company’s stock, valued at approximately $504,000.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in SS&C Technologies in the fourth quarter valued at about $39,000. Parkside Financial Bank & Trust raised its stake 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 valued at $40,000 after acquiring an additional 229 shares during the period. Financial Perspectives Inc purchased a new position in shares of SS&C Technologies during the 4th quarter worth approximately $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies during the 4th quarter worth approximately $64,000. Finally, CENTRAL TRUST Co purchased a new stake in SS&C Technologies in the fourth quarter valued at approximately $65,000. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the sale, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. The trade was a 49.78 % decrease in their ownership of the stock. The transaction 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 value of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SSNC. Raymond James raised their price target on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 7th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Needham & Company LLC increased their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, UBS Group increased their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $97.50.

SS&C Technologies Price Performance

Shares of SSNC opened at $83.00 on Wednesday. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of 27.67 and a beta of 1.36. The firm’s fifty day simple moving average is $84.30 and its 200-day simple moving average is $78.42. SS&C Technologies Holdings, Inc. has a twelve month low of $59.63 and a twelve month high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

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

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. SS&C Technologies’s payout ratio is currently 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.