Axa S.A. Sells 42,710 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Axa S.A. trimmed its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 56.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,722 shares of the technology company’s stock after selling 42,710 shares during the quarter. Axa S.A.’s holdings in SS&C Technologies were worth $2,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SSNC. Advisory Services Network LLC purchased a new position in SS&C Technologies during the fourth quarter valued at $170,000. TD Asset Management Inc lifted its position in SS&C Technologies by 11.7% during the 4th quarter. TD Asset Management Inc now owns 53,988 shares of the technology company’s stock valued at $3,299,000 after acquiring an additional 5,657 shares during the period. Stifel Financial Corp boosted its stake in SS&C Technologies by 4.1% during the fourth quarter. Stifel Financial Corp now owns 175,435 shares of the technology company’s stock worth $10,721,000 after acquiring an additional 6,932 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in SS&C Technologies by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 102,175 shares of the technology company’s stock worth $6,244,000 after purchasing an additional 964 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of SS&C Technologies during the fourth quarter valued at approximately $233,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SSNC. Needham & Company LLC upped their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, DA Davidson increased their price objective on shares of SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $74.21 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $76.94. The firm has a market capitalization of $18.35 billion, a PE ratio of 29.57 and a beta of 1.38. The company has a 50 day moving average price of $72.91 and a 200-day moving average price of $66.27.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results 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 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 analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. 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 approved a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.35%. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

SS&C Technologies 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.