Valley Wealth Managers Inc. Reduces Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Valley Wealth Managers Inc. trimmed its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 246,360 shares of the technology company's stock after selling 7,010 shares during the period. Valley Wealth Managers Inc. owned about 0.10% of SS&C Technologies worth $18,282,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB purchased a new stake in SS&C Technologies during the 1st quarter worth approximately $94,939,000. Millennium Management LLC increased its position in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company's stock valued at $213,070,000 after purchasing an additional 1,120,961 shares during the last quarter. AQR Capital Management LLC increased its position in shares of SS&C Technologies by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company's stock valued at $78,900,000 after purchasing an additional 571,334 shares during the last quarter. Capital International Investors increased its position in shares of SS&C Technologies by 111.1% in the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company's stock valued at $68,975,000 after purchasing an additional 564,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of SS&C Technologies by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company's stock valued at $168,995,000 after purchasing an additional 349,911 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Performance

Shares of SSNC stock traded down $0.83 during mid-day trading on Friday, hitting $73.40. The stock had a trading volume of 1,530,169 shares, compared to its average volume of 1,081,484. SS&C Technologies Holdings, Inc. has a fifty-two week low of $54.44 and a fifty-two week high of $77.02. The firm has a market cap of $18.18 billion, a PE ratio of 26.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company's 50-day simple moving average is $74.03 and its 200-day simple moving average is $68.90.

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 the consensus estimate of $1.26 by $0.03. The company 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%. The business's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS. Sell-side analysts anticipate 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 initiated a stock buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, September 3rd. This is an increase from SS&C Technologies's previous quarterly dividend of $0.24. SS&C Technologies's dividend payout ratio (DPR) is currently 35.84%.

Insider Activity

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 333,576 shares of the company's stock, valued at $25,144,958.88. This trade represents a 28.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rahul Kanwar sold 412,190 shares of the firm's stock in a transaction dated 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. This represents a 87.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock worth $41,386,285 in the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SSNC shares. Raymond James upped their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a "strong-buy" rating in a report on Friday, October 25th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. StockNews.com upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 5th. Finally, DA Davidson reiterated 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.