Distillate Capital Partners LLC Acquires 232,721 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Distillate Capital Partners LLC increased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 107,244.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,938 shares of the technology company’s stock after acquiring an additional 232,721 shares during the period. Distillate Capital Partners LLC owned about 0.09% of SS&C Technologies worth $14,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SSNC. Progeny 3 Inc. increased its stake in shares of SS&C Technologies by 49.2% in the 2nd quarter. Progeny 3 Inc. now owns 751,600 shares of the technology company’s stock valued at $47,103,000 after purchasing an additional 248,000 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of SS&C Technologies by 42.8% in the 2nd quarter. Marshall Wace LLP now owns 8,741 shares of the technology company’s stock valued at $548,000 after purchasing an additional 2,618 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of SS&C Technologies by 877.4% during the 2nd quarter. Magnetar Financial LLC now owns 73,089 shares of the technology company’s stock valued at $4,580,000 after purchasing an additional 65,611 shares during the last quarter. Heron Bay Capital Management increased its position in SS&C Technologies by 24.3% during the 2nd quarter. Heron Bay Capital Management now owns 305,443 shares of the technology company’s stock worth $19,142,000 after purchasing an additional 59,678 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in SS&C Technologies by 5.5% in the second quarter. Ensign Peak Advisors Inc now owns 81,482 shares of the technology company’s stock valued at $5,106,000 after buying an additional 4,255 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Price Performance

SSNC opened at $75.27 on Tuesday. The firm has a market cap of $18.62 billion, a P/E ratio of 29.99 and a beta of 1.38. 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 fifty-two week low of $46.61 and a fifty-two week high of $76.94. The firm has a 50-day moving average of $72.24 and a 200 day moving average of $65.85.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

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

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. 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 1.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s payout ratio is currently 39.84%.

Insider Buying and Selling 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 shares were 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 legal filing with the SEC, which can be accessed through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated 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 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 a total of 590,690 shares of company stock valued at $43,377,625 over the last three months. 15.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SSNC shares. DA Davidson upped their price target on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC upped their target price on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, 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, September 19th. Three equities 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.75.

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.