Eagle Asset Management Inc. Lowers Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Eagle Asset Management Inc. lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 40.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,831 shares of the technology company’s stock after selling 19,064 shares during the quarter. Eagle Asset Management Inc.’s holdings in SS&C Technologies were worth $2,081,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in SS&C Technologies during the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in SS&C Technologies during the second quarter valued at approximately $35,000. Benjamin Edwards Inc. lifted its stake in shares of SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Versant Capital Management Inc raised its position in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in SS&C Technologies during the second quarter worth approximately $47,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $76.87 on Tuesday. The company has a market capitalization of $19.04 billion, a PE ratio of 27.55 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a twelve month low of $55.45 and a twelve month high of $77.50. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $74.11 and its 200 day moving average price is $69.42.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 earnings per share. On average, research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s payout ratio is currently 35.84%.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 45.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SSNC shares. Royal Bank of Canada boosted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. DA Davidson reaffirmed a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Finally, Raymond James increased their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies presently has an average rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.