Davis Capital Management Boosts Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Davis Capital Management boosted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 30.1% in the third quarter, Holdings Channel.com reports. The fund owned 6,628 shares of the technology company’s stock after buying an additional 1,535 shares during the quarter. Davis Capital Management’s holdings in SS&C Technologies were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at about $94,939,000. Millennium Management LLC lifted its stake in SS&C Technologies by 49.2% in the second 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 last quarter. Junto Capital Management LP lifted its stake in SS&C Technologies by 183.0% in the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock valued at $89,904,000 after buying an additional 951,269 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of SS&C Technologies by 82.1% in the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares during the period. Finally, Capital International Investors grew its position in shares of SS&C Technologies by 111.1% during the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after acquiring an additional 564,017 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analyst Ratings Changes

SSNC has been the subject of several research reports. Needham & Company LLC upped their price target on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. DA Davidson upped 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. Finally, Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

Insider Buying and Selling

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the company’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 value of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 in the last quarter. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Down 0.1 %

Shares of SS&C Technologies stock opened at $73.55 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company’s 50-day simple moving average is $73.03 and its 200-day simple moving average is $66.35. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $76.94. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 29.30 and a beta of 1.38.

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

SS&C Technologies Increases Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

SS&C Technologies announced that its board has approved a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

SS&C Technologies Company 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.