Incline Global Management LLC Sells 55,696 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Incline Global Management LLC reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,215 shares of the technology company’s stock after selling 55,696 shares during the quarter. SS&C Technologies makes up about 4.6% of Incline Global Management LLC’s portfolio, making the stock its 18th biggest holding. Incline Global Management LLC owned 0.09% of SS&C Technologies worth $14,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Quent Capital LLC boosted its stake in SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after purchasing an additional 172 shares during the period. ST Germain D J Co. Inc. bought a new stake in SS&C Technologies in the 1st quarter valued at $27,000. Denali Advisors LLC bought a new stake in SS&C Technologies in the 1st quarter valued at $51,000. Principal Securities Inc. bought a new stake in SS&C Technologies in the 4th quarter valued at $53,000. Finally, Tobam boosted its stake in SS&C Technologies by 1,428.8% in the 4th quarter. Tobam now owns 1,009 shares of the technology company’s stock valued at $62,000 after purchasing an additional 943 shares during the period. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SSNC has been the subject of several recent research reports. DA Davidson boosted their price target on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC lifted their price objective on SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price objective on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group lifted their price objective on SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.75.

SS&C Technologies Price Performance

SSNC traded down $0.20 on Tuesday, reaching $73.46. The stock had a trading volume of 1,499,639 shares, compared to its average volume of 977,491. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $73.97. The firm has a 50-day moving average of $63.68 and a 200-day moving average of $62.81. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 29.27 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.31%. SS&C Technologies’s payout ratio is presently 38.25%.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 10,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.94, for a total value of $639,400.00. Following the completion of the sale, the director now owns 38,000 shares of the company’s stock, valued at $2,429,720. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 32,500 shares of company stock worth $2,027,750. Insiders own 15.40% of the company’s stock.

About SS&C Technologies

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.