Cubist Systematic Strategies LLC Acquires 6,624 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cubist Systematic Strategies LLC lifted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 183.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,225 shares of the technology company’s stock after acquiring an additional 6,624 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in SS&C Technologies were worth $641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Swedbank AB acquired a new stake in SS&C Technologies during the 1st quarter worth approximately $94,939,000. Millennium Management LLC lifted its holdings in SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after purchasing an additional 1,120,961 shares during the last quarter. AQR Capital Management LLC lifted its holdings in 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 worth $78,900,000 after purchasing an additional 571,334 shares during the last quarter. Capital International Investors lifted its holdings in SS&C Technologies by 111.1% during the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after purchasing an additional 564,017 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in SS&C Technologies during the 1st quarter worth approximately $31,305,000. 96.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SSNC. Needham & Company LLC lifted their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Price Performance

Shares of SSNC stock opened at $75.44 on Friday. The company has a quick ratio of 1.16, a current 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 has a market cap of $18.66 billion, a P/E ratio of 30.06 and a beta of 1.38. The business has a fifty day simple moving average of $73.44 and a 200 day simple moving average of $66.90.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company earned $0.96 EPS. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is currently 39.84%.

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

Insider Buying and Selling

In other SS&C Technologies 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 value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other SS&C Technologies 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 value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 in the last ninety days. 15.40% of the stock is owned by insiders.

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.