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In a recent series of transactions, Michael Jay Zamkow, a director at SS&C Technologies Holdings Inc. (NASDAQ:SSNC), sold a significant portion of his holdings in the company. On February 25, Zamkow sold 23,000 shares of common stock at an average price of $88.394 per share, totaling approximately $2.03 million. The sale was conducted through family trusts, leaving him with 23,200 shares following the transaction.
In addition to the sale, Zamkow also engaged in a transaction on February 27 involving a bona fide gift of 15,300 shares from a trust he controls. This transaction, classified as an exempt gift, did not involve any financial exchange. Following these transactions, Zamkow’s direct ownership in the company increased to 37,876 shares.
These moves are part of regular portfolio adjustments and estate planning strategies often undertaken by executives. Investors may view such transactions as a routine part of managing personal holdings and trusts.
In other recent news, SS&C Technologies Holdings, Inc. reported fourth-quarter earnings that surpassed estimates, with total revenue and adjusted EBITDA exceeding DA Davidson’s projections by 3% and 1%, respectively. The company has also provided initial guidance for 2025, anticipating year-over-year growth in adjusted revenue between 3.4% and 6.1%, and adjusted earnings per share ranging from $5.64 to $5.96. In a strategic move, SS&C Technologies has acquired FPS Trust Company, enhancing its benefit payment solutions for institutional clients. This acquisition is expected to strengthen its managed services offerings through the SS&C Innovest division. On the analyst front, UBS, DA Davidson, and Needham have all maintained their Buy ratings on SS&C Technologies, with price targets set at $105, $102, and $105, respectively. Jefferies has upgraded SS&C Technologies from Hold to Buy, raising the price target from $70 to $94, citing a positive outlook on the company’s business trajectory and potential for new customer acquisitions. These developments reflect confidence in SS&C Technologies’ growth strategy and financial performance.
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