QRG Capital Management Inc. Buys 42,901 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

QRG Capital Management Inc. boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 533.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,946 shares of the technology company's stock after buying an additional 42,901 shares during the quarter. QRG Capital Management Inc.'s holdings in SS&C Technologies were worth $3,781,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SSNC. Innealta Capital LLC acquired a new stake in SS&C Technologies during the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies during the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. increased its position in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after purchasing an additional 204 shares during the period. Versant Capital Management Inc increased its position in 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 purchasing an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in SS&C Technologies during the 2nd quarter valued at approximately $47,000. Institutional investors own 96.95% of the company's stock.

Insider Buying and Selling at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total value 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 approximately $25,144,958.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company's stock.

Wall Street Analyst Weigh In

SSNC has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. StockNews.com raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Raymond James raised their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a research report on Friday, October 25th. Finally, DA Davidson reaffirmed a "buy" rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies presently has an average rating of "Buy" and a consensus price target of $77.75.

SS&C Technologies Stock Up 0.6 %

NASDAQ:SSNC traded up $0.42 during trading hours on Thursday, hitting $74.59. 1,483,607 shares of the company traded hands, compared to its average volume of 1,064,083. 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 firm's 50-day simple moving average is $73.96 and its 200-day simple moving average is $68.32. SS&C Technologies Holdings, Inc. has a one year low of $51.92 and a one year high of $77.02. The company has a market cap of $18.47 billion, a PE ratio of 26.58 and a beta of 1.39.

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, 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 for the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the business earned $1.04 EPS. The business's revenue was up 7.3% on a year-over-year basis. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

SS&C Technologies Increases Dividend

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

SS&C Technologies Company 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.