JPMorgan Chase & Co. Reduces Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

JPMorgan Chase & Co. cut its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,310 shares of the technology company’s stock after selling 79,669 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of SS&C Technologies worth $36,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SSNC. Toronto Dominion Bank lifted its position in SS&C Technologies by 26.4% in the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after buying an additional 6,721 shares during the last quarter. State Street Corp increased its holdings in SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after purchasing an additional 121,223 shares during the last quarter. National Pension Service raised its position in SS&C Technologies by 5.4% in the third quarter. National Pension Service now owns 530,166 shares of the technology company’s stock valued at $39,344,000 after purchasing an additional 27,336 shares during the period. Assenagon Asset Management S.A. raised its position in SS&C Technologies by 64.8% in the third quarter. Assenagon Asset Management S.A. now owns 172,712 shares of the technology company’s stock valued at $12,817,000 after purchasing an additional 67,915 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of SS&C Technologies during the third quarter worth $2,219,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SSNC. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Raymond James raised their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 $77.75.

SS&C Technologies Trading Down 0.5 %

SSNC opened at $75.70 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a one year low of $59.18 and a one year high of $77.69. The company has a market cap of $18.75 billion, a P/E ratio of 27.13 and a beta of 1.37. The business’s 50-day simple moving average is $75.11 and its 200-day simple moving average is $72.51.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

Insider Activity

In related news, CEO William C. Stone sold 132,700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,446,744,613.10. This represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,000 shares of company stock valued at $34,461,478. 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.