SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 425,923 shares of the technology company’s stock after selling 7,446 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of SS&C Technologies worth $26,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SSNC. Quent Capital LLC raised its stake in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $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 approximately $26,000. ST Germain D J Co. Inc. purchased a new position in SS&C Technologies in the first quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies during the second quarter worth $35,000. Finally, Versant Capital Management Inc raised its position in SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after purchasing an additional 693 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity 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 transaction of $9,799,400.00. Following the completion of the sale, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. 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 Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on 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 owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock valued at $43,377,625 over the last quarter. 15.40% of the stock is owned by insiders.

SS&C Technologies Trading Down 1.2 %

NASDAQ:SSNC opened at $75.53 on Friday. The stock has a fifty day moving average price of $72.07 and a 200 day moving average price of $65.74. 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 Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $76.94. The firm has a market cap of $18.68 billion, a PE ratio of 30.09 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Sell-side 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 company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 39.84%.

SS&C Technologies declared that its board has initiated a share repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.