Meyer Handelman Co. Has $5.66 Million Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Meyer Handelman Co. raised its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,680 shares of the technology company’s stock after buying an additional 8,588 shares during the quarter. Meyer Handelman Co.’s holdings in SS&C Technologies were worth $5,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSNC. Acadian Asset Management LLC purchased a new stake in shares of SS&C Technologies during the second quarter worth $811,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SS&C Technologies during the 2nd quarter worth about $35,000. Choreo LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter valued at about $391,000. American Century Companies Inc. lifted its holdings in shares of SS&C Technologies by 9.9% during the 2nd quarter. American Century Companies Inc. now owns 16,245 shares of the technology company’s stock valued at $1,018,000 after buying an additional 1,460 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of SS&C Technologies by 1.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 59,035 shares of the technology company’s stock valued at $3,670,000 after buying an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SSNC shares. Raymond James lifted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,000 shares of company stock valued at $34,461,478. 15.40% of the stock is owned by company insiders.

SS&C Technologies Stock Up 2.1 %

SSNC stock opened at $77.12 on Wednesday. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 27.64 and a beta of 1.37. The company has a 50-day moving average of $75.73 and a two-hundred day moving average of $73.07. SS&C Technologies Holdings, Inc. has a 52-week low of $59.18 and a 52-week high of $77.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. SS&C Technologies’s payout ratio is 35.84%.

SS&C Technologies Company 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.