Kornitzer Capital Management Inc. KS Sells 9,000 Shares of SS&C Technologies Holdings, Inc. $SSNC

Kornitzer Capital Management Inc. KS lessened its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 14.6% in the third quarter, HoldingsChannel.com reports. The fund owned 52,642 shares of the technology company’s stock after selling 9,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in SS&C Technologies were worth $4,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its position in SS&C Technologies by 6.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 17,463 shares of the technology company’s stock valued at $1,550,000 after purchasing an additional 1,013 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of SS&C Technologies by 1.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 17,129 shares of the technology company’s stock worth $1,520,000 after acquiring an additional 175 shares during the last quarter. CIBC Asset Management Inc grew its position in SS&C Technologies by 10.7% in the third quarter. CIBC Asset Management Inc now owns 11,557 shares of the technology company’s stock worth $1,026,000 after acquiring an additional 1,119 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of SS&C Technologies during the 3rd quarter valued at about $463,000. Finally, UNIVEST FINANCIAL Corp lifted its position in SS&C Technologies by 0.8% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 140,405 shares of the technology company’s stock worth $12,462,000 after buying an additional 1,085 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

SS&C Technologies Trading Down 0.3%

Shares of SS&C Technologies stock opened at $85.49 on Wednesday. SS&C Technologies Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $91.07. The company’s fifty day simple moving average is $86.62 and its 200-day simple moving average is $86.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $20.86 billion, a PE ratio of 25.37 and a beta of 1.19.

SS&C Technologies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 1st. SS&C Technologies’s payout ratio is currently 32.05%.

Insider Buying and Selling

In other news, Director Normand A. Boulanger sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total value of $12,877,500.00. Following the transaction, the director owned 386,924 shares of the company’s stock, valued at $33,217,425.40. This trade represents a 27.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SS&C Technologies in a research note on Thursday, January 22nd. UBS Group upped their price objective on shares of SS&C Technologies from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Wall Street Zen raised SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Morgan Stanley increased their price objective on SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Finally, Jefferies Financial Group upped their price target on SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

About SS&C Technologies

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.