SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Bought by State Street Corp

State Street Corp lifted its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,624,174 shares of the technology company's stock after purchasing an additional 121,223 shares during the quarter. State Street Corp owned about 2.27% of SS&C Technologies worth $417,370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of SS&C Technologies by 2,178.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company's stock worth $6,568,000 after buying an additional 100,197 shares during the last quarter. National Pension Service raised its position in SS&C Technologies by 5.4% during the third quarter. National Pension Service now owns 530,166 shares of the technology company's stock valued at $39,344,000 after purchasing an additional 27,336 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $1,661,000. Point72 DIFC Ltd purchased a new position in shares of SS&C Technologies in the 3rd quarter worth approximately $2,219,000. Finally, Jackson Square Capital LLC bought a new position in shares of SS&C Technologies during the 3rd quarter valued at approximately $1,612,000. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Stock Up 1.9 %

Shares of SSNC traded up $1.46 during midday trading on Tuesday, reaching $76.92. 1,529,117 shares of the stock were exchanged, compared to its average volume of 1,091,572. The company has a market capitalization of $19.05 billion, a P/E ratio of 27.36 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 52 week low of $57.23 and a 52 week high of $77.69. The company's 50 day moving average is $74.50 and its two-hundred day moving average is $70.47.

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

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.30%. SS&C Technologies's dividend payout ratio (DPR) is presently 35.84%.

Insider Activity

In related news, Director Normand A. Boulanger sold 130,000 shares of the business'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 transaction, the director now owns 333,576 shares in the company, valued at $25,144,958.88. The trade was a 28.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William C. Stone sold 247,300 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares of the company's stock, valued at approximately $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 465,300 shares of company stock worth $35,506,313. 15.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada lifted 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 note on Thursday, September 19th. StockNews.com downgraded shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, November 15th. 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 note on Friday, October 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, DA Davidson reissued a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $77.75.

SS&C Technologies 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.