New South Capital Management Inc. Trims Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

New South Capital Management Inc. reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 710,259 shares of the technology company's stock after selling 11,553 shares during the quarter. SS&C Technologies accounts for 2.2% of New South Capital Management Inc.'s portfolio, making the stock its 19th biggest holding. New South Capital Management Inc. owned about 0.29% of SS&C Technologies worth $52,708,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SSNC. Janney Montgomery Scott LLC grew its stake in SS&C Technologies by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company's stock worth $3,435,000 after buying an additional 196 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of SS&C Technologies by 2.9% during the 3rd quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company's stock valued at $524,000 after acquiring an additional 198 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company's stock valued at $446,000 after buying an additional 203 shares during the period. Benjamin Edwards Inc. lifted its stake in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock worth $42,000 after acquiring an additional 204 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of SS&C Technologies by 0.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company's stock valued at $3,822,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares of the company's stock, valued at approximately $25,144,958.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Normand A. Boulanger sold 130,000 shares of the 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 of the company's stock, valued at $25,144,958.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the business's 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 transaction, the chief operating officer now directly owns 57,642 shares of the company's stock, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock worth $41,386,285 over the last 90 days. Corporate insiders own 15.40% of the company's stock.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC traded down $0.54 during midday trading on Tuesday, reaching $74.30. 1,478,330 shares of the company traded hands, compared to its average volume of 1,071,223. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 26.82 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 12 month low of $52.37 and a 12 month high of $77.02. The firm's fifty day moving average price is $73.95 and its two-hundred day moving average price is $68.65. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

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, 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies announced that its board has initiated a share repurchase program 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 programs are often a sign that the company's board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is a boost from SS&C Technologies's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies's payout ratio is 35.84%.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of analyst reports. Raymond James lifted their price objective 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. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a research note on Thursday, September 19th. DA Davidson reiterated a "buy" rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 5th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $77.75.

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.