Heron Bay Capital Management Acquires 59,678 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Heron Bay Capital Management increased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 24.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 305,443 shares of the technology company’s stock after acquiring an additional 59,678 shares during the quarter. SS&C Technologies makes up 4.1% of Heron Bay Capital Management’s portfolio, making the stock its 6th biggest position. Heron Bay Capital Management owned 0.12% of SS&C Technologies worth $19,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SSNC. EverSource Wealth Advisors LLC grew its position in shares of SS&C Technologies by 14.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock worth $79,000 after buying an additional 166 shares in the last quarter. Quent Capital LLC grew its holdings in SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after acquiring an additional 172 shares in the last quarter. Scotia Capital Inc. lifted 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 purchasing an additional 191 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock worth $446,000 after purchasing an additional 203 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Buying and Selling at SS&C Technologies

In related news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now owns 333,576 shares in the company, valued at $25,144,958.88. 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 the 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 owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. In the last three months, insiders sold 590,690 shares of company stock valued at $43,377,625. 15.40% of the stock is owned by insiders.

SS&C Technologies Stock Down 1.2 %

SSNC stock opened at $75.53 on Friday. The firm’s 50-day moving average is $72.07 and its two-hundred day moving average is $65.74. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 30.09 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $76.94. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping 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 firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies declared that its board has approved a share repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.32%. SS&C Technologies’s payout ratio is 39.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, DA Davidson lifted their target price on SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies 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.