Bleakley Financial Group LLC Purchases 494 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bleakley Financial Group LLC boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,228 shares of the technology company’s stock after acquiring an additional 494 shares during the quarter. Bleakley Financial Group LLC’s holdings in SS&C Technologies were worth $314,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SSNC. Quent Capital LLC raised its holdings 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 valued at $25,000 after purchasing an additional 172 shares during the last quarter. Innealta Capital LLC bought a new stake in SS&C Technologies in the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in SS&C Technologies during the 2nd quarter valued at $35,000. Benjamin Edwards Inc. lifted its holdings in shares of SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares during the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction that occurred on 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 $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Up 0.4 %

SS&C Technologies stock opened at $75.79 on Thursday. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $77.02. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 27.56 and a beta of 1.38. The firm has a 50 day moving average of $74.38 and a 200 day moving average of $67.61. 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 announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies declared that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership 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 issued a dividend of $0.25 per share. 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 dividend on an annualized basis and a yield of 1.32%. SS&C Technologies’s dividend payout ratio (DPR) is currently 36.36%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SSNC shares. DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

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.