MBB Public Markets I LLC Invests $1.03 Million in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

MBB Public Markets I LLC acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,400 shares of the technology company’s stock, valued at approximately $1,028,000.

Several other hedge funds have also made changes to their positions in the business. Dark Forest Capital Management LP boosted its holdings in shares of SS&C Technologies by 119.2% during the second quarter. Dark Forest Capital Management LP now owns 96,974 shares of the technology company’s stock worth $6,077,000 after purchasing an additional 52,725 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of SS&C Technologies by 62.6% during the second quarter. APG Asset Management N.V. now owns 451,166 shares of the technology company’s stock worth $26,382,000 after purchasing an additional 173,687 shares during the last quarter. AQR Capital Management LLC boosted its holdings in SS&C Technologies by 82.1% in the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares during the last quarter. Toronto Dominion Bank boosted its holdings in SS&C Technologies by 19.7% in the second quarter. Toronto Dominion Bank now owns 25,415 shares of the technology company’s stock valued at $1,593,000 after acquiring an additional 4,187 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in SS&C Technologies by 183.9% in the second quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after acquiring an additional 6,624 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Trading Up 0.4 %

NASDAQ:SSNC opened at $74.21 on Tuesday. The business’s 50-day moving average is $72.91 and its two-hundred day moving average is $66.27. 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 12 month low of $46.61 and a 12 month 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.

SS&C Technologies (NASDAQ:SSNC) last released 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company posted $0.96 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. Research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend yield of 1.35%. This is a positive change 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 payout ratio is presently 39.84%.

SS&C Technologies announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

SSNC has been the topic of a number of research analyst reports. DA Davidson lifted their target price on SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 20th. Needham & Company LLC lifted their target price on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three equities 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 MarketBeat, SS&C Technologies has an average rating of “Moderate Buy” and an average target price of $73.75.

Insider Transactions at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Rahul Kanwar sold 412,190 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by insiders.

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.