Old West Investment Management LLC Increases Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Old West Investment Management LLC raised its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 19.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,784 shares of the technology company's stock after acquiring an additional 17,893 shares during the quarter. SS&C Technologies comprises approximately 3.0% of Old West Investment Management LLC's portfolio, making the stock its 12th biggest holding. Old West Investment Management LLC's holdings in SS&C Technologies were worth $8,295,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in SS&C Technologies by 7.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company's stock valued at $543,000 after purchasing an additional 597 shares during the period. Janney Montgomery Scott LLC increased its stake in SS&C Technologies by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 46,672 shares of the technology company's stock worth $3,004,000 after acquiring an additional 683 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at about $75,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of SS&C Technologies by 52.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,475 shares of the technology company's stock valued at $288,000 after acquiring an additional 1,532 shares during the last quarter. Finally, Mitchell Capital Management Co. grew its holdings in shares of SS&C Technologies by 3.2% during the first quarter. Mitchell Capital Management Co. now owns 66,908 shares of the technology company's stock worth $4,307,000 after purchasing an additional 2,062 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SSNC. StockNews.com raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Raymond James upped their price objective 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. DA Davidson reissued a "buy" rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $77.75.

Insider Activity

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly 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 can be accessed through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of the firm'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 transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares of the company's stock, valued at $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,690 shares of company stock valued at $44,821,055. Corporate insiders own 15.40% of the company's stock.

SS&C Technologies Trading Up 3.2 %

Shares of NASDAQ SSNC traded up $2.27 during trading hours on Wednesday, hitting $74.17. The company's stock had a trading volume of 1,337,623 shares, compared to its average volume of 1,062,131. SS&C Technologies Holdings, Inc. has a 12 month low of $51.92 and a 12 month high of $77.02. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 25.77 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The business has a 50-day simple moving average of $73.96 and a 200-day simple moving average of $68.27.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. The firm 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. On average, 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 business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. This is a boost 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 currently 35.84%.

SS&C Technologies declared that its board has authorized a share buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.