SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 5.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,152,542 shares of the technology company’s stock after acquiring an additional 63,457 shares during the quarter. Mackenzie Financial Corp’s holdings in SS&C Technologies were worth $72,230,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in shares of SS&C Technologies during the 1st quarter valued at about $94,939,000. Millennium Management LLC grew its stake in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after buying an additional 1,120,961 shares during the period. Junto Capital Management LP increased its holdings in shares of SS&C Technologies by 183.0% during the 4th quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after buying an additional 951,269 shares during the last quarter. AQR Capital Management LLC raised its position in shares of SS&C Technologies by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after buying an additional 571,334 shares during the period. Finally, Capital International Investors lifted its holdings in SS&C Technologies by 111.1% in the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after acquiring an additional 564,017 shares during the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Trading Down 0.8 %

SSNC opened at $73.92 on Friday. The business has a fifty day moving average price of $72.78 and a 200 day moving average price of $66.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $76.94. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 29.45 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results 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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side 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 of Directors has initiated a stock repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 39.84%.

Insider Activity at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of the business’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 completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 over the last quarter. 15.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SSNC shares. Royal Bank of Canada raised their target price 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. DA Davidson boosted their price objective 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. Finally, Needham & Company LLC increased 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, September 19th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.