Olstein Capital Management L.P. Reduces Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Olstein Capital Management L.P. trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 27.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,000 shares of the technology company's stock after selling 39,000 shares during the quarter. Olstein Capital Management L.P.'s holdings in SS&C Technologies were worth $7,569,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SSNC. Jackson Square Capital LLC bought a new position in shares of SS&C Technologies during the 3rd quarter worth $1,612,000. Concurrent Investment Advisors LLC purchased a new position in SS&C Technologies during the 3rd quarter valued at about $221,000. Old West Investment Management LLC raised its holdings in shares of SS&C Technologies by 19.1% in the 3rd quarter. Old West Investment Management LLC now owns 111,784 shares of the technology company's stock valued at $8,295,000 after purchasing an additional 17,893 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of SS&C Technologies in the 3rd quarter worth approximately $1,818,000. Finally, QRG Capital Management Inc. boosted its stake in shares of SS&C Technologies by 533.3% during the third quarter. QRG Capital Management Inc. now owns 50,946 shares of the technology company's stock valued at $3,781,000 after purchasing an additional 42,901 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the firm's stock in a transaction dated 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 $678,172.32. This trade 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 is available at this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The sale 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 stock in a transaction that occurred on 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 owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company's stock.

Wall Street Analyst Weigh In

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

SS&C Technologies Stock Performance

Shares of SSNC traded up $0.42 during trading hours on Thursday, reaching $74.59. 1,483,607 shares of the company traded hands, compared to its average volume of 1,064,083. The stock has a market capitalization of $18.47 billion, a P/E ratio of 26.58 and a beta of 1.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average price of $73.96 and a 200-day moving average price of $68.32. SS&C Technologies Holdings, Inc. has a 12-month low of $51.92 and a 12-month high of $77.02.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding 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 an indication that the company's leadership believes its stock is undervalued.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is an increase from SS&C Technologies's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies's dividend payout ratio (DPR) is currently 35.84%.

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.