Burgundy Asset Management Ltd. Buys 201,632 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Burgundy Asset Management Ltd. grew its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,942,374 shares of the technology company’s stock after buying an additional 201,632 shares during the quarter. SS&C Technologies makes up approximately 3.3% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 3rd largest position. Burgundy Asset Management Ltd. owned approximately 2.00% of SS&C Technologies worth $309,739,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SSNC. Norges Bank purchased a new position in SS&C Technologies during the 4th quarter valued at about $168,860,000. Swedbank AB acquired a new position in SS&C Technologies in the 1st quarter valued at approximately $94,939,000. Junto Capital Management LP lifted its position in SS&C Technologies by 183.0% in the 4th quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after buying an additional 951,269 shares in the last quarter. Capital International Investors boosted its stake in shares of SS&C Technologies by 111.1% during the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after buying an additional 564,017 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of SS&C Technologies during the 1st quarter valued at $31,305,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DA Davidson increased their price objective on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Needham & Company LLC lifted their price target on SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective 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 research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Insider Buying and Selling

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 sale, 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. Over the last quarter, insiders have sold 590,690 shares of company stock valued at $43,377,625. 15.40% of the stock is owned by company insiders.

SS&C Technologies Stock Down 0.2 %

SS&C Technologies stock opened at $75.36 on Thursday. 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 fifty-two week low of $46.61 and a fifty-two week high of $76.69. The firm has a fifty day moving average price of $71.59 and a two-hundred day moving average price of $65.56. The firm has a market cap of $18.64 billion, a price-to-earnings ratio of 30.02 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data 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 business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is 39.84%.

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.