Bridgewater Associates LP Decreases Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bridgewater Associates LP lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 94.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,102 shares of the technology company’s stock after selling 72,641 shares during the quarter. Bridgewater Associates LP’s holdings in SS&C Technologies were worth $304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SSNC. Comerica Bank boosted its position in shares of SS&C Technologies by 24.0% in the 1st quarter. Comerica Bank now owns 50,531 shares of the technology company’s stock worth $3,253,000 after buying an additional 9,764 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of SS&C Technologies in the first quarter valued at approximately $343,000. DekaBank Deutsche Girozentrale increased its stake in shares of SS&C Technologies by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,465 shares of the technology company’s stock worth $3,758,000 after purchasing an additional 551 shares in the last quarter. DNB Asset Management AS raised its position in shares of SS&C Technologies by 25.4% during the 2nd quarter. DNB Asset Management AS now owns 47,042 shares of the technology company’s stock worth $2,948,000 after purchasing an additional 9,523 shares during the last quarter. Finally, CWM LLC lifted its stake in SS&C Technologies by 130.1% in the 2nd quarter. CWM LLC now owns 7,792 shares of the technology company’s stock valued at $488,000 after buying an additional 4,406 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $76.70 on Wednesday. The firm has a market capitalization of $19.00 billion, a price-to-earnings ratio of 27.49 and a beta of 1.38. The company has a 50 day moving average price of $74.33 and a 200 day moving average price of $70.10. SS&C Technologies Holdings, Inc. has a one year low of $56.10 and a one year high of $77.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’s 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 sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. This trade represents a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,000 shares of company stock worth $16,560,660. 15.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SSNC has been the subject of several recent research reports. 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 research report on Thursday, September 19th. Raymond James boosted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

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.