Point72 Asset Management L.P. Has $10.61 Million Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Point72 Asset Management L.P. decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 31.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,213 shares of the technology company’s stock after selling 79,187 shares during the quarter. Point72 Asset Management L.P. owned about 0.07% of SS&C Technologies worth $10,605,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quent Capital LLC boosted its position in shares of SS&C Technologies by 76.8% in 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 last quarter. Summit Trail Advisors LLC boosted its stake in SS&C Technologies by 2.9% during the 2nd 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 during the last quarter. Benjamin Edwards Inc. boosted its stake in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Graypoint LLC increased its stake in SS&C Technologies by 2.6% in the first quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock valued at $530,000 after purchasing an additional 207 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in SS&C Technologies by 4.9% in the first quarter. Yousif Capital Management LLC now owns 4,477 shares of the technology company’s stock worth $288,000 after purchasing an additional 211 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

SSNC opened at $74.21 on Tuesday. 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 debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50-day simple moving average is $72.91 and its 200 day simple moving average is $66.27. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is an increase 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 presently 39.84%.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. DA Davidson lifted their target price on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Needham & Company LLC boosted their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada raised their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.75.

Insider Activity

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction 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 sale, 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 hyperlink. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on 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 owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company’s stock.

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.