Diamond Hill Capital Management Inc. Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Diamond Hill Capital Management Inc. lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,596,843 shares of the technology company's stock after selling 201,880 shares during the period. SS&C Technologies makes up approximately 2.3% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 7th biggest position. Diamond Hill Capital Management Inc. owned about 3.07% of SS&C Technologies worth $563,762,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in SS&C Technologies in the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. lifted its holdings in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock valued at $44,000 after buying an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of SS&C Technologies in the second quarter valued at about $47,000. 96.95% of the stock is currently owned by institutional investors.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Rahul Kanwar sold 412,190 shares of the company'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 completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company's stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SSNC has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. StockNews.com raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 5th. Finally, Raymond James raised 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 research 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $77.75.

SS&C Technologies Price Performance

Shares of NASDAQ SSNC traded up $0.48 during trading on Monday, hitting $75.26. The company had a trading volume of 401,057 shares, compared to its average volume of 1,062,294. The stock has a fifty day simple moving average of $73.96 and a two-hundred day simple moving average of $68.55. 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 has a market capitalization of $18.64 billion, a price-to-earnings ratio of 26.80 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a fifty-two week low of $52.37 and a fifty-two week high of $77.02.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. On average, research 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 authorized a stock buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. This is an increase 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 is 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.