Cornercap Investment Counsel Inc. Sells 7,436 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cornercap Investment Counsel Inc. trimmed its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,364 shares of the technology company's stock after selling 7,436 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in SS&C Technologies were worth $843,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in SS&C Technologies during the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the 2nd quarter valued at $35,000. Benjamin Edwards Inc. raised its stake in 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 acquiring an additional 204 shares in the last quarter. Versant Capital Management Inc increased its position in shares of SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock valued at $44,000 after purchasing an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of SS&C Technologies during the 2nd quarter valued at $47,000. 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 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 completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company's stock, valued at $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 have sold 561,190 shares of company stock valued at $41,386,285 over the last 90 days. 15.40% of the stock is owned by company insiders.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock traded down $0.83 during midday trading on Friday, hitting $73.40. 1,564,268 shares of the company were exchanged, compared to its average volume of 1,081,484. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $18.18 billion, a P/E ratio of 26.31 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52 week low of $54.44 and a 52 week high of $77.02. The firm has a 50 day simple moving average of $74.03 and a 200-day simple moving average of $68.95.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

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

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.24. SS&C Technologies's dividend payout ratio is 35.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SSNC shares. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. DA Davidson restated a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Raymond James raised their price target on 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, StockNews.com lowered SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $77.75.

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.