Victory Capital Management Inc. Has $79.54 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Victory Capital Management Inc. increased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 29.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,269,116 shares of the technology company’s stock after acquiring an additional 290,496 shares during the quarter. Victory Capital Management Inc. owned about 0.51% of SS&C Technologies worth $79,536,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SSNC. Quent Capital LLC boosted its stake 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 valued at $25,000 after purchasing an additional 172 shares during the last quarter. Innealta Capital LLC acquired a new position in SS&C Technologies in the second quarter valued at approximately $26,000. ST Germain D J Co. Inc. bought a new position in SS&C Technologies in the first quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of SS&C Technologies during the 2nd quarter valued at $47,000. Institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. DA Davidson upped their price target on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC increased their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Insider Transactions at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Michael Jay Zamkow sold 7,500 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the transaction, the director now directly owns 41,576 shares in the company, valued at approximately $2,513,684.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders sold 468,190 shares of company stock valued at $34,031,675 over the last three months. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Price Performance

Shares of SSNC opened at $72.10 on Friday. 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 firm has a market capitalization of $17.83 billion, a PE ratio of 28.73 and a beta of 1.38. The stock has a 50 day simple moving average of $69.66 and a 200 day simple moving average of $64.99. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $75.10.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data 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. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. SS&C Technologies’s payout ratio is 39.84%.

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.