SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 49.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,399,874 shares of the technology company’s stock after purchasing an additional 1,120,961 shares during the quarter. Millennium Management LLC’s holdings in SS&C Technologies were worth $213,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. MBB Public Markets I LLC acquired a new stake in shares of SS&C Technologies during the second quarter worth about $1,028,000. Dark Forest Capital Management LP lifted its position in shares of SS&C Technologies by 119.2% during the second quarter. Dark Forest Capital Management LP now owns 96,974 shares of the technology company’s stock worth $6,077,000 after purchasing an additional 52,725 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of SS&C Technologies by 62.6% during the second quarter. APG Asset Management N.V. now owns 451,166 shares of the technology company’s stock worth $26,382,000 after purchasing an additional 173,687 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of SS&C Technologies by 82.1% during the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after purchasing an additional 571,334 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in SS&C Technologies by 19.7% in the second quarter. Toronto Dominion Bank now owns 25,415 shares of the technology company’s stock valued at $1,593,000 after acquiring an additional 4,187 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 $4,215,359.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Up 0.9 %

SSNC stock opened at $74.48 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies Holdings, Inc. has a twelve month low of $46.61 and a twelve month high of $76.94. The company’s 50 day moving average is $72.63 and its two-hundred day moving average is $66.06. The stock has a market cap of $18.42 billion, a P/E ratio of 29.67 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies declared that its board has authorized a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change 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 1.34%. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

Wall Street Analyst Weigh In

SSNC has been the topic of several analyst reports. DA Davidson raised their target price on shares of SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 20th. Needham & Company LLC raised their target price on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada raised their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.75.

About SS&C Technologies

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.