Choreo LLC acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,280 shares of the technology company’s stock, valued at approximately $391,000.
Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies during the second quarter worth about $35,000. Acadian Asset Management LLC acquired a new position in SS&C Technologies during the second quarter worth approximately $811,000. New South Capital Management Inc. lifted its stake in SS&C Technologies by 41.8% in the second quarter. New South Capital Management Inc. now owns 721,812 shares of the technology company’s stock valued at $45,236,000 after buying an additional 212,685 shares during the last quarter. Savant Capital LLC grew its position in shares of SS&C Technologies by 309.1% during the second quarter. Savant Capital LLC now owns 30,774 shares of the technology company’s stock worth $1,929,000 after acquiring an additional 23,251 shares during the last quarter. Finally, North Star Asset Management Inc. increased its holdings in shares of SS&C Technologies by 0.7% in the 2nd quarter. North Star Asset Management Inc. now owns 591,386 shares of the technology company’s stock valued at $37,062,000 after acquiring an additional 3,991 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.
Insider Transactions at SS&C Technologies
In related news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.
SS&C Technologies Stock Up 1.0 %
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $0.96 earnings per share. SS&C Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.
SS&C Technologies Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on SSNC shares. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC boosted their price target on SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, DA Davidson increased their price objective on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.75.
Read Our Latest Stock Analysis on SSNC
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.
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