Victory Capital Management Inc. Decreases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Victory Capital Management Inc. lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,168,294 shares of the technology company's stock after selling 100,822 shares during the quarter. Victory Capital Management Inc. owned approximately 0.47% of SS&C Technologies worth $86,699,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of SS&C Technologies by 9.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 525,197 shares of the technology company's stock valued at $38,975,000 after purchasing an additional 43,815 shares in the last quarter. GSA Capital Partners LLP lifted its stake in SS&C Technologies by 109.4% in the third quarter. GSA Capital Partners LLP now owns 8,697 shares of the technology company's stock valued at $645,000 after buying an additional 4,544 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of SS&C Technologies during the third quarter worth $2,146,000. Wolverine Asset Management LLC raised its holdings in shares of SS&C Technologies by 198.8% during the third quarter. Wolverine Asset Management LLC now owns 9,590 shares of the technology company's stock worth $712,000 after acquiring an additional 19,300 shares during the period. Finally, Covestor Ltd raised its holdings in shares of SS&C Technologies by 10.3% during the third quarter. Covestor Ltd now owns 2,262 shares of the technology company's stock worth $168,000 after acquiring an additional 212 shares during the period. Institutional investors and hedge funds own 96.95% of the company's stock.

SS&C Technologies Price Performance

NASDAQ:SSNC traded down $0.62 during trading hours on Thursday, hitting $74.23. The company's stock had a trading volume of 1,615,884 shares, compared to its average volume of 1,079,148. SS&C Technologies Holdings, Inc. has a twelve month low of $54.40 and a twelve month high of $77.02. 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 stock has a fifty day simple moving average of $73.98 and a 200-day simple moving average of $68.78. The company has a market capitalization of $18.39 billion, a P/E ratio of 26.83 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released 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 company 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. SS&C Technologies's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. 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 is currently 35.84%.

SS&C Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Raymond James boosted their target price on SS&C Technologies from $79.00 to $85.00 and gave the company a "strong-buy" rating in a research note on Friday, October 25th. Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on 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 SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 5th. Finally, DA Davidson restated a "buy" rating and issued 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 given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, SS&C Technologies has an average rating of "Buy" and a consensus price target of $77.75.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 57,642 shares of the company's stock, valued at approximately $4,215,359.46. The trade was a 87.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction 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 sale, the director now owns 333,576 shares of the company's stock, valued at $25,144,958.88. This represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 561,190 shares of company stock worth $41,386,285. Company insiders own 15.40% of the company's stock.

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.