Castleark Management LLC Makes New $698,000 Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Castleark Management LLC bought a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,410 shares of the technology company's stock, valued at approximately $698,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of 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 purchasing an additional 1,120,961 shares during the last quarter. Janus Henderson Group PLC lifted its holdings 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 buying an additional 817,501 shares during the period. AQR Capital Management LLC boosted 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 valued at $78,900,000 after acquiring an additional 571,334 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in SS&C Technologies by 250.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 593,700 shares of the technology company's stock worth $44,058,000 after acquiring an additional 424,487 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 worth $168,995,000 after acquiring an additional 349,911 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SSNC shares. StockNews.com lowered SS&C Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 15th. Raymond James increased their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a report on Friday, October 25th. 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 research report on Thursday, September 19th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Finally, DA Davidson reissued a "buy" rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $77.75.

SS&C Technologies Stock Down 0.5 %

SSNC stock traded down $0.35 during midday trading on Friday, reaching $76.12. 860,859 shares of the company's stock traded hands, compared to its average volume of 1,327,861. The firm's fifty day moving average price is $74.48 and its 200-day moving average price is $70.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market cap of $18.85 billion, a price-to-earnings ratio of 27.28 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 52 week low of $56.62 and a 52 week high of $77.69.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.04 earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies's dividend payout ratio is currently 35.84%.

Insider Buying and Selling at SS&C Technologies

In related news, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. This represents a 28.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,000 shares of company stock worth $16,560,660 over the last ninety days. Insiders own 15.40% of the company's stock.

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.