Boyar Asset Management Inc. purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,979 shares of the technology company's stock, valued at approximately $1,334,000.
Other hedge funds have also bought and sold shares of the company. Millennium Management LLC raised its holdings in SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company's stock valued at $213,070,000 after acquiring an additional 1,120,961 shares in the last quarter. Janus Henderson Group PLC raised its stake in SS&C Technologies by 5.4% in the third quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company's stock valued at $1,191,774,000 after purchasing an additional 817,501 shares in the last quarter. AQR Capital Management LLC lifted its position in SS&C Technologies by 82.1% during the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company's stock worth $78,900,000 after purchasing an additional 571,334 shares during the period. Point72 Asset Management L.P. grew its stake in SS&C Technologies by 250.9% during the third quarter. Point72 Asset Management L.P. now owns 593,700 shares of the technology company's stock worth $44,058,000 after buying an additional 424,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in SS&C Technologies by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company's stock valued at $168,995,000 after buying an additional 349,911 shares during the period. 96.95% of the stock is owned by institutional investors.
SS&C Technologies Trading Down 0.5 %
Shares of SS&C Technologies stock traded down $0.35 during trading on Thursday, hitting $76.90. The company's stock had a trading volume of 1,326,423 shares, compared to its average volume of 1,094,267. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 27.53 and a beta of 1.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52 week low of $58.14 and a 52 week high of $77.69. The stock has a 50-day moving average price of $74.64 and a two-hundred day moving average price of $70.63.
SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. The business's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.
SS&C Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies's dividend payout ratio is currently 35.84%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SSNC. Royal Bank of Canada upped their price target 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. StockNews.com lowered shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James boosted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a research note on Friday, October 25th. Finally, DA Davidson reiterated a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.75.
Read Our Latest Stock Report on SSNC
Insider Transactions at SS&C Technologies
In related news, CEO William C. Stone sold 247,300 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares of the company's stock, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 598,000 shares of company stock worth $45,704,308 over the last three months. 15.40% of the stock is owned by company insiders.
About SS&C Technologies
(
Free Report)
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.
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