Meiji Yasuda Asset Management Co Ltd. Acquires 2,396 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,566 shares of the technology company’s stock after buying an additional 2,396 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in SS&C Technologies were worth $2,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SSNC. Quent Capital LLC lifted its stake in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after purchasing an additional 172 shares during the period. Innealta Capital LLC acquired a new position in SS&C Technologies in the second quarter valued at about $26,000. ST Germain D J Co. Inc. acquired a new position in SS&C Technologies in the first quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in SS&C Technologies during the second quarter worth about $35,000. Finally, Versant Capital Management Inc increased its stake in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SS&C Technologies news, 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 value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $678,172.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the company’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 sale, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 590,690 shares of company stock worth $43,377,625. 15.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. DA Davidson lifted their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.75.

SS&C Technologies Price Performance

Shares of NASDAQ SSNC opened at $75.36 on Thursday. The company has a fifty day moving average price of $71.59 and a 200 day moving average price of $65.56. SS&C Technologies Holdings, Inc. has a 1-year low of $46.61 and a 1-year high of $76.69. The firm has a market cap of $18.64 billion, a PE ratio of 30.02 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 EPS. Research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share 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. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is currently 39.84%.

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.