Argent Trust Co Sells 2,254 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Argent Trust Co lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 10.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,558 shares of the technology company’s stock after selling 2,254 shares during the quarter. Argent Trust Co’s holdings in SS&C Technologies were worth $1,226,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in SS&C Technologies in the fourth quarter valued at approximately $168,860,000. Swedbank AB bought a new position in SS&C Technologies during the first quarter worth $94,939,000. Junto Capital Management LP increased its holdings in shares of SS&C Technologies by 183.0% in the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock valued at $89,904,000 after purchasing an additional 951,269 shares during the last quarter. Capital International Investors raised its position in shares of SS&C Technologies by 111.1% in the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after purchasing an additional 564,017 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of SS&C Technologies during the 1st quarter worth about $31,305,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $76.46 on Friday. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 30.46 and a beta of 1.38. The stock has a fifty day moving average price of $71.86 and a 200-day moving average price of $65.63. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $76.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last issued 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 EPS. As a group, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now owns 333,576 shares in the company, valued at $25,144,958.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Normand A. Boulanger sold 130,000 shares of the 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 owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 590,690 shares of company stock valued at $43,377,625. Corporate insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SSNC. DA Davidson increased their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Needham & Company LLC lifted their target price on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.25.

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.