SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Stock Holdings Increased by Progeny 3 Inc.

Progeny 3 Inc. raised its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 49.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 751,600 shares of the technology company’s stock after buying an additional 248,000 shares during the quarter. SS&C Technologies comprises about 4.5% of Progeny 3 Inc.’s portfolio, making the stock its 9th biggest holding. Progeny 3 Inc. owned about 0.30% of SS&C Technologies worth $47,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Quent Capital LLC grew its stake in shares of SS&C Technologies by 76.8% in the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after acquiring an additional 172 shares in the last quarter. Innealta Capital LLC acquired a new position in SS&C Technologies during the 2nd quarter worth $26,000. ST Germain D J Co. Inc. purchased a new stake in SS&C Technologies during the 1st quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in SS&C Technologies during the 2nd quarter worth about $35,000. Finally, Benjamin Edwards Inc. raised its position in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Down 0.3 %

SS&C Technologies stock opened at $75.27 on Tuesday. 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 stock has a 50-day simple moving average of $72.24 and a 200-day simple moving average of $65.85. The company has a market capitalization of $18.62 billion, a P/E ratio of 29.99 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $0.96 EPS. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. 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 approved a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

Insider Activity

In related news, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction on 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 $25,144,958.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Normand A. Boulanger sold 130,000 shares of the firm’s 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 sale, the director now owns 333,576 shares in the company, valued at $25,144,958.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the business’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 transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 590,690 shares of company stock valued at $43,377,625. Company insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the topic of several analyst reports. DA Davidson raised their target price on shares of SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC boosted their target price on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.