Ss&C Technologies Hldgs INC (SSNC) Share Value Rose While Palestra Capital Management LLC Has Trimmed Its Position by $3.83 Million

October 2, 2018 - By Peter Kolinski

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) LogoInvestors sentiment increased to 2.1 in Q2 2018. Its up 0.99, from 1.11 in 2018Q1. It is positive, as 24 investors sold SSNC shares while 66 reduced holdings. 49 funds opened positions while 140 raised stakes. 192.11 million shares or 16.29% more from 165.20 million shares in 2018Q1 were reported. Canandaigua Bancshares Tru invested in 0.08% or 8,220 shares. Ameriprise Fincl Inc reported 618,888 shares or 0.01% of all its holdings. First Mercantile Trust has invested 0.12% in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). North Star Asset Mgmt has invested 1% in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). Dekabank Deutsche Girozentrale stated it has 0% of its portfolio in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). Pictet Asset Mngmt has invested 0.01% of its portfolio in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). Proshare Advsr Lc, a Maryland-based fund reported 10,570 shares. Sumitomo Mitsui Asset stated it has 13,025 shares or 0.01% of all its holdings. Ls Advsr Limited Liability Co holds 4,200 shares or 0.01% of its portfolio. The California-based Assetmark has invested 0% in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). 42,515 were reported by Autus Asset Mngmt Limited. Korea Invest Corp, a Korea-based fund reported 5,400 shares. Clarivest Asset Mngmt Llc has invested 0.04% of its portfolio in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). 6 were reported by Piedmont Investment Advsr Limited Liability Com. Oakbrook accumulated 6,000 shares.

Palestra Capital Management Llc decreased its stake in Ss&C Technologies Hldgs Inc (SSNC) by 3.86% based on its latest 2018Q2 regulatory filing with the SEC. Palestra Capital Management Llc sold 75,000 shares as the company’s stock rose 8.89% with the market. The hedge fund held 1.87 million shares of the technology company at the end of 2018Q2, valued at $97.05M, down from 1.95 million at the end of the previous reported quarter. Palestra Capital Management Llc who had been investing in Ss&C Technologies Hldgs Inc for a number of months, seems to be less bullish one the $13.29 billion market cap company. The stock decreased 1.74% or $0.99 during the last trading session, reaching $55.84. About 1.52 million shares traded or 13.40% up from the average. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has risen 49.07% since October 2, 2017 and is uptrending. It has outperformed by 33.45% the S&P500.

Palestra Capital Management Llc, which manages about $755.46M and $2.29B US Long portfolio, upped its stake in Alibaba Group Hldg Ltd (NYSE:BABA) by 180,000 shares to 590,000 shares, valued at $109.46M in 2018Q2, according to the filing. It also increased its holding in Restaurant Brands Intl Inc by 837,091 shares in the quarter, for a total of 2.04M shares, and has risen its stake in T Mobile Us Inc (NYSE:TMUS).

Analysts await SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) to report earnings on October, 24. They expect $0.60 EPS, up 27.66 % or $0.13 from last year’s $0.47 per share. SSNC’s profit will be $142.84M for 23.27 P/E if the $0.60 EPS becomes a reality. After $0.52 actual EPS reported by SS&C Technologies Holdings, Inc. for the previous quarter, Wall Street now forecasts 15.38 % EPS growth.

Another recent and important SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) news was published by which published an article titled: “SS&C to acquire Intralinks” on September 06, 2018.

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Ratings Coverage

Among 5 analysts covering SS&C Technologies Holdings (NASDAQ:SSNC), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. SS&C Technologies Holdings had 6 analyst reports since April 27, 2018 according to SRatingsIntel. Credit Suisse initiated it with “Buy” rating and $6000 target in Thursday, May 31 report. The firm has “Buy” rating by Citigroup given on Tuesday, June 12. Deutsche Bank maintained the shares of SSNC in report on Monday, May 21 with “Hold” rating. The firm earned “Buy” rating on Monday, September 10 by Deutsche Bank. The rating was maintained by DA Davidson on Monday, September 10 with “Neutral”.

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Institutional Positions Chart

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