Handelsbanken Fonder AB Boosts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Handelsbanken Fonder AB raised its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,098 shares of the technology company’s stock after purchasing an additional 1,396 shares during the quarter. Handelsbanken Fonder AB’s holdings in SS&C Technologies were worth $4,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after acquiring an additional 18,878 shares during the period. Assenagon Asset Management S.A. grew its holdings in SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after purchasing an additional 100,197 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares during the period. Burgundy Asset Management Ltd. lifted its stake in SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of SS&C Technologies by 5.3% during the first quarter. California State Teachers Retirement System now owns 433,572 shares of the technology company’s stock valued at $27,909,000 after buying an additional 21,641 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated 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 directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the company’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 transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last quarter. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Up 0.5 %

NASDAQ:SSNC opened at $73.69 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 company has a 50-day moving average of $73.30 and a 200 day moving average of $66.70. The firm has a market cap of $18.23 billion, a PE ratio of 29.36 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced 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. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a share buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is 39.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson increased their price target on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note 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 company a “buy” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.