Raymond James & Associates Purchases 28,238 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James & Associates raised its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 412,006 shares of the technology company’s stock after purchasing an additional 28,238 shares during the period. Raymond James & Associates’ holdings in SS&C Technologies were worth $30,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of SSNC. Swedbank AB acquired a new stake in shares of SS&C Technologies in the first quarter valued at approximately $94,939,000. Millennium Management LLC raised its holdings in 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 acquiring an additional 1,120,961 shares in the last quarter. AQR Capital Management LLC lifted 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 acquiring an additional 571,334 shares during the period. Capital International Investors grew its holdings in shares of 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 in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of SS&C Technologies in the first quarter worth $31,305,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Stock Up 0.4 %

Shares of NASDAQ SSNC opened at $75.79 on Thursday. The firm has a market cap of $18.60 billion, a PE ratio of 27.56 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $77.02. The company has a 50 day simple moving average of $74.38 and a 200 day simple moving average of $67.61. 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 (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. On average, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. 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. SS&C Technologies’s dividend payout ratio (DPR) is currently 36.36%.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the 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 sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction 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 of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their position. 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 over the last quarter. Company insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

SSNC has been the subject of several recent analyst reports. Royal Bank of Canada upped 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, September 19th. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Needham & Company LLC lifted their price target on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average target price of $73.75.

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.