Norris Perne & French LLP MI Reduces Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Norris Perne & French LLP MI lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,516 shares of the technology company's stock after selling 7,831 shares during the period. Norris Perne & French LLP MI owned approximately 0.11% of SS&C Technologies worth $20,298,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SSNC. SG Americas Securities LLC boosted its stake in SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company's stock valued at $4,305,000 after acquiring an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company's stock valued at $6,568,000 after purchasing an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System increased its position in SS&C Technologies by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company's stock worth $16,341,000 after buying an additional 11,497 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of SS&C Technologies in the second quarter valued at $1,661,000. Finally, Burgundy Asset Management Ltd. lifted its position in shares of SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company's stock valued at $309,739,000 after buying an additional 201,632 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Price Performance

SSNC stock traded up $0.47 during midday trading on Friday, reaching $70.40. The company had a trading volume of 1,637,651 shares, compared to its average volume of 1,058,504. The firm has a 50-day moving average price of $74.14 and a 200-day moving average price of $67.94. The company has a market capitalization of $17.28 billion, a P/E ratio of 25.24 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1 year low of $49.51 and a 1 year high of $77.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.62%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. This is an increase from SS&C Technologies's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. SS&C Technologies's payout ratio is presently 35.84%.

SS&C Technologies announced that its board has approved a share buyback plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SSNC shares. DA Davidson restated a "buy" rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com downgraded shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Monday. Royal Bank of Canada boosted their target price 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. 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 report on Friday, October 25th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. 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 has a consensus rating of "Moderate Buy" and an average price target of $77.75.

Insiders Place Their Bets

In other news, Director Smita Conjeevaram sold 48,500 shares of the business'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 directly owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was 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 of the company's stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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 owns 57,642 shares of the company's stock, valued at $4,215,359.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock valued at $44,821,055 over the last quarter. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies 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.