Raymond James & Associates Has $30.58 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James & Associates boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,006 shares of the technology company’s stock after buying an additional 28,238 shares during the period. Raymond James & Associates owned approximately 0.17% of SS&C Technologies worth $30,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its position 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 worth $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 about $26,000. Ashton Thomas Private Wealth LLC bought a new position in SS&C Technologies during the second quarter worth about $35,000. Benjamin Edwards Inc. grew its position 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 worth $42,000 after buying an additional 204 shares during the period. Finally, Versant Capital Management Inc increased 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 valued at $44,000 after acquiring an additional 693 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Stock Performance

SSNC opened at $75.79 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. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 27.56 and a beta of 1.38. The business’s 50-day moving average price is $74.38 and its two-hundred day moving average price is $67.61. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal 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 issued a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.32%. SS&C Technologies’s dividend payout ratio is presently 36.36%.

SS&C Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on SSNC. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, Needham & Company LLC lifted their target price on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.75.

Insider Activity at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the company’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 completion of the sale, the director now owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 609,690 shares of company stock valued at $44,821,055. Corporate insiders own 15.40% of the company’s stock.

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.