Do Hedge Funds Love SS&C Technologies Holdings, Inc. (SSNC)?

Seeing as SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has witnessed bearish sentiment from the smart money, logic holds that there lies a certain “tier” of hedge funds who were dropping their full holdings in the third quarter. At the top of the heap, James Parsons’s Junto Capital Management cut the biggest stake of the “upper crust” of funds watched by Insider Monkey, totaling close to $20.9 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund cut about $9.7 million worth of shares. These bearish behaviors are interesting, as total hedge fund interest was cut by 1 fund in the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) but similarly valued. We will take a look at Reliance Steel & Aluminum (NYSE:RS), Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL), West Pharmaceutical Services Inc. (NYSE:WST), and EnLink Midstream Partners LP (NYSE:ENLK). This group of stocks’ market valuations are closest to SSNC’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $231 million. That figure was an impressive $1.12 billion in SSNC’s case. Reliance Steel & Aluminum (NYSE:RS) is the most popular stock in this table. On the other hand Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.