Commonwealth Equity Services LLC Sells 697 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Commonwealth Equity Services LLC reduced its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,742 shares of the technology company’s stock after selling 697 shares during the period. Commonwealth Equity Services LLC’s holdings in SS&C Technologies were worth $485,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Pzena Investment Management LLC raised its position in SS&C Technologies by 0.3% in the first quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock worth $934,595,000 after acquiring an additional 46,211 shares during the period. Burgundy Asset Management Ltd. raised its position in SS&C Technologies by 0.5% in the first quarter. Burgundy Asset Management Ltd. now owns 4,740,742 shares of the technology company’s stock worth $305,162,000 after acquiring an additional 23,950 shares during the period. Price T Rowe Associates Inc. MD raised its position in SS&C Technologies by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock worth $248,485,000 after acquiring an additional 25,183 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in SS&C Technologies by 3.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,573,909 shares of the technology company’s stock worth $98,637,000 after acquiring an additional 48,488 shares during the period. Finally, Swedbank AB bought a new stake in SS&C Technologies in the first quarter worth about $94,939,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Trading Down 1.2 %

Shares of SSNC opened at $75.53 on Friday. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of 30.09 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $76.94. The firm has a 50 day moving average price of $72.07 and a 200-day moving average price of $65.74.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted $0.96 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. SS&C Technologies’s dividend payout ratio is currently 39.84%.

SS&C Technologies declared that its board has initiated a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have commented on SSNC. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday. DA Davidson lifted their target price on shares of SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC lifted their target price on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Insider Transactions at SS&C Technologies

In other news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s 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 transaction, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock valued at $43,377,625 in the last three months. 15.40% of the stock is currently owned by company insiders.

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.