SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,511 shares of the technology company’s stock after selling 9,037 shares during the quarter. ProShare Advisors LLC’s holdings in SS&C Technologies were worth $7,176,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SSNC. Quent Capital LLC increased its position in SS&C Technologies by 76.8% during the 1st 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. Scotia Capital Inc. grew its holdings in SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after acquiring an additional 191 shares during the period. Summit Trail Advisors LLC raised its position in SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock worth $446,000 after acquiring an additional 203 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. Finally, Graypoint LLC boosted its position in shares of SS&C Technologies by 2.6% during the 1st quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock worth $530,000 after purchasing an additional 207 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SSNC. Needham & Company LLC increased their price target on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. 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. Finally, DA Davidson boosted 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, September 20th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Trading Down 0.6 %

Shares of SSNC opened at $74.83 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick 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 stock has a market cap of $18.36 billion, a price-to-earnings ratio of 29.81 and a beta of 1.38. The firm has a 50 day simple moving average of $72.39 and a 200-day simple moving average of $65.94.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping 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 company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.96 earnings per share. SS&C Technologies’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS 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. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is 39.84%.

SS&C Technologies declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 in the last ninety days. Insiders own 15.40% of the company’s stock.

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.