Capital Investment Services of America Inc. Reduces Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Capital Investment Services of America Inc. reduced its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,872 shares of the technology company's stock after selling 22,341 shares during the quarter. SS&C Technologies accounts for 2.1% of Capital Investment Services of America Inc.'s holdings, making the stock its 24th largest position. Capital Investment Services of America Inc. owned approximately 0.12% of SS&C Technologies worth $21,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Quent Capital LLC grew its position in shares of SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company's stock valued at $25,000 after acquiring an additional 172 shares during the period. Innealta Capital LLC acquired a new stake in SS&C Technologies in the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies in the second quarter valued at approximately $35,000. Benjamin Edwards Inc. raised its stake 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 lifted 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 buying an additional 693 shares in the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DA Davidson reissued a "buy" rating and issued a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. 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. StockNews.com lowered shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price objective 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 target price 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.75.

SS&C Technologies Trading Up 0.5 %

SS&C Technologies stock traded up $0.37 during trading on Monday, reaching $70.77. 1,133,264 shares of the company were exchanged, compared to its average volume of 1,058,855. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.16. The stock's 50 day simple moving average is $74.07 and its two-hundred day simple moving average is $68.12. SS&C Technologies Holdings, Inc. has a 52-week low of $51.72 and a 52-week high of $77.02. The company has a market capitalization of $17.53 billion, a P/E ratio of 25.27 and a beta of 1.39.

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

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from SS&C Technologies's previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies's dividend payout ratio (DPR) is presently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of the company's stock in a transaction on 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 sale, the director now owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of the business's 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 directly owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $25,144,958.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 in the last ninety days. 15.40% of the stock is owned by corporate insiders.

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.