Pzena Reports 5.6% Stake In SS&C, 13,239,900 Shares, In Passive Ownership Filing
The asset manager certified it holds the shares in the ordinary course of business, not to influence control of the company.
Pzena Investment Management holds 5.6% of SS&C Technologies Holdings' common stock, or 13,239,900 shares, according to a Schedule 13G filed Monday. A Schedule 13G is a passive ownership disclosure, and the filing lists September 30 as the date of the event that triggered it.
What the filing says
Pzena filed as a registered investment adviser. It reports sole voting power over 10,793,757 of the 13,239,900 shares and shared voting power over none.
Pzena's address in the filing is 320 Park Avenue in New York. SS&C's is listed as 80 Lamberton Road in Windsor, Connecticut.
The filing says Pzena's clients have the right to receive dividends from the shares, or the proceeds of a sale. It adds that no single client's interest relates to more than 5% of the class.
What it changes
The filing is passive in kind. Pzena certified that, to the best of its knowledge, the shares were acquired and are held in the ordinary course of business. It also certified they were not acquired or held to change or influence control of SS&C.
That separates the position from an activist stake, which would be reported on a different form. Pzena votes most of what it holds on its own, and the filing does not describe any plan to seek board seats or changes at the company.
In Monday trading, as of 1:06 p.m. ET, SS&C shares were at $84.64, up about 0.68% from the prior close of $84.07, for a market value of $19.7 billion.
The 13G sets out Pzena's position as of September 30: 13,239,900 shares, 5.6% of the class.
Sources
- SCHEDULE 13G — PZENA INVESTMENT MANAGEMENT LLC re: SS&C Technologies Holdings Inc (SSNC) — SEC EDGAR
