Verition Fund Management LLC Purchases 38,359 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Verition Fund Management LLC lifted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 937.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,450 shares of the technology company's stock after acquiring an additional 38,359 shares during the quarter. Verition Fund Management LLC's holdings in SS&C Technologies were worth $3,150,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of SS&C Technologies in the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. lifted its holdings in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in SS&C Technologies in the second quarter worth approximately $47,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of SS&C Technologies during the 3rd quarter worth $68,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Up 0.0 %

NASDAQ:SSNC traded up $0.02 during mid-day trading on Thursday, reaching $76.93. The stock had a trading volume of 247,216 shares, compared to its average volume of 1,085,708. 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 has a market capitalization of $19.05 billion, a price-to-earnings ratio of 27.57 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1-year low of $56.62 and a 1-year high of $77.69. The stock's 50 day simple moving average is $74.39 and its two-hundred day simple moving average is $70.15.

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 (EPS) for the quarter, topping 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 the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.04 EPS. The business's revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

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

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Normand A. Boulanger sold 130,000 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly owns 333,576 shares of the company's stock, valued at $25,144,958.88. The trade was a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,000 shares of company stock worth $16,560,660 in the last three months. 15.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSNC. Raymond James increased 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. StockNews.com cut SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, November 15th. 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. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target 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. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $77.75.

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.