Ironwood Investment Counsel LLC Cuts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Ironwood Investment Counsel LLC trimmed its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,506 shares of the technology company’s stock after selling 444 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in SS&C Technologies were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSNC. Raymond James Trust N.A. boosted its stake in SS&C Technologies by 5.3% in the fourth quarter. Raymond James Trust N.A. now owns 21,052 shares of the technology company’s stock valued at $1,286,000 after acquiring an additional 1,068 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of SS&C Technologies in the fourth quarter valued at approximately $2,388,000. Archford Capital Strategies LLC raised its position in shares of SS&C Technologies by 52.4% in the fourth quarter. Archford Capital Strategies LLC now owns 23,010 shares of the technology company’s stock valued at $1,406,000 after purchasing an additional 7,912 shares during the period. Heron Bay Capital Management raised its position in shares of SS&C Technologies by 4.3% in the fourth quarter. Heron Bay Capital Management now owns 262,922 shares of the technology company’s stock valued at $16,067,000 after purchasing an additional 10,880 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of SS&C Technologies by 202.0% in the fourth quarter. SG Americas Securities LLC now owns 48,001 shares of the technology company’s stock valued at $2,933,000 after purchasing an additional 32,106 shares during the period. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SSNC shares. Jefferies Financial Group upped their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, DA Davidson upped their price objective on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.80.

SS&C Technologies Trading Up 1.5 %

NASDAQ SSNC traded up $1.01 during trading on Monday, hitting $67.56. The company had a trading volume of 748,963 shares, compared to its average volume of 954,534. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $69.49. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 26.92 and a beta of 1.38. The company’s fifty day moving average is $62.85 and its 200-day moving average is $62.39.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. On average, sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.42%. SS&C Technologies’s payout ratio is 38.25%.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $63.14, for a total transaction of $315,700.00. Following the completion of the sale, the director now directly owns 38,000 shares in the company, valued at approximately $2,399,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 32,500 shares of company stock worth $2,027,750 in the last three months. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.