Massachusetts Financial Services Co. MA Boosts Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Massachusetts Financial Services Co. MA increased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,998 shares of the technology company’s stock after purchasing an additional 797 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of SS&C Technologies worth $9,839,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Pzena Investment Management LLC raised its position in shares of SS&C Technologies by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock worth $934,595,000 after purchasing an additional 46,211 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in SS&C Technologies by 0.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after purchasing an additional 53,080 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in SS&C Technologies by 0.5% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,740,742 shares of the technology company’s stock worth $305,162,000 after purchasing an additional 23,950 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of SS&C Technologies by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after buying an additional 25,183 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in shares of SS&C Technologies by 3.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,573,909 shares of the technology company’s stock worth $98,637,000 after buying an additional 48,488 shares in the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the 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 sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction 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 transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s 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 sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The disclosure for this sale can be found here. Insiders sold a total of 590,690 shares of company stock worth $43,377,625 over the last 90 days. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $75.53 on Friday. The company’s 50 day simple moving average is $72.07 and its 200-day simple moving average is $65.74. 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 Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $76.94. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 30.09 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

Analyst Ratings Changes

SSNC has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday. DA Davidson raised their target price on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC upped their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

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.