Ashton Thomas Private Wealth LLC Acquires Shares of 560 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 560 shares of the technology company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in SS&C Technologies by 14.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after buying an additional 166 shares in the last quarter. Quent Capital LLC raised its position in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after acquiring an additional 172 shares during the last quarter. Scotia Capital Inc. raised its position in shares of SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after acquiring an additional 191 shares during the last quarter. Graypoint LLC raised its position in shares of SS&C Technologies by 2.6% during the first quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock worth $530,000 after acquiring an additional 207 shares during the last quarter. Finally, Yousif Capital Management LLC increased 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 in the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Rahul Kanwar sold 412,190 shares of the company’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 transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The disclosure for this sale can be found here. 15.40% of the stock is owned by company insiders.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $75.51 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $75.67. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of 30.08 and a beta of 1.38. The business’s fifty day moving average is $70.76 and its 200 day moving average is $65.33.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. This is a boost 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%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their target price on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, July 26th. DA Davidson lifted their target price on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.75.

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.