Daiwa Securities Group Inc. cut its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,547 shares of the technology company’s stock after selling 9,469 shares during the period. Daiwa Securities Group Inc.’s holdings in SS&C Technologies were worth $2,777,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in SS&C Technologies during the fourth quarter valued at approximately $36,000. CWM LLC boosted its position in SS&C Technologies by 115.6% during the fourth quarter. CWM LLC now owns 873 shares of the technology company’s stock valued at $39,000 after purchasing an additional 468 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in SS&C Technologies during the fourth quarter valued at approximately $49,000. Csenge Advisory Group acquired a new position in SS&C Technologies during the third quarter valued at approximately $81,000. Finally, Virtu Financial LLC acquired a new position in SS&C Technologies during the fourth quarter valued at approximately $212,000. 80.95% of the stock is owned by hedge funds and other institutional investors.
SSNC has been the subject of a number of recent analyst reports. Zacks Investment Research cut SS&C Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. JPMorgan Chase & Co. set a $70.00 price objective on SS&C Technologies and gave the company a “buy” rating in a research report on Thursday, November 1st. Buckingham Research initiated coverage on SS&C Technologies in a research report on Thursday, January 24th. They issued a “buy” rating and a $65.00 price objective for the company. Rosenblatt Securities initiated coverage on SS&C Technologies in a research report on Wednesday, December 5th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. SS&C Technologies presently has an average rating of “Buy” and a consensus target price of $64.21.
In other news, Director Jonathan E. Michael bought 10,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were bought at an average price of $44.58 per share, for a total transaction of $445,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have bought 10,098 shares of company stock worth $450,034. 17.50% of the stock is owned by corporate insiders.
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About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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