Russell Investments Group Ltd. Decreases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Russell Investments Group Ltd. cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,675 shares of the technology company’s stock after selling 29,283 shares during the period. Russell Investments Group Ltd. owned about 0.16% of SS&C Technologies worth $23,614,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of SS&C Technologies by 136.1% in the 2nd quarter. IFP Advisors Inc now owns 477 shares of the technology company’s stock valued at $26,000 after purchasing an additional 275 shares during the last quarter. KB Financial Partners LLC acquired a new position in SS&C Technologies in the 1st quarter valued at about $26,000. Ellevest Inc. increased its position in SS&C Technologies by 165.8% in the 1st quarter. Ellevest Inc. now owns 497 shares of the technology company’s stock valued at $28,000 after acquiring an additional 310 shares during the period. Harbour Investments Inc. increased its position in SS&C Technologies by 364.3% in the 1st quarter. Harbour Investments Inc. now owns 520 shares of the technology company’s stock valued at $29,000 after acquiring an additional 408 shares during the period. Finally, Natixis acquired a new position in SS&C Technologies during the 4th quarter worth approximately $33,000. 82.17% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Up 0.2 %

Shares of NASDAQ SSNC opened at $55.12 on Tuesday. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $64.52. The company has a market cap of $13.64 billion, a P/E ratio of 22.78 and a beta of 1.41. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $52.46 and a 200 day moving average price of $55.80.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 26th. The technology company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. SS&C Technologies had a net margin of 11.42% and a return on equity of 16.77%. Research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.15 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.74%. SS&C Technologies’s dividend payout ratio is presently 39.67%.

Insider Transactions at SS&C Technologies

In other news, COO Rahul Kanwar sold 140,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the transaction, the chief operating officer now owns 50,000 shares of the company’s stock, valued at $2,838,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Normand A. Boulanger sold 20,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $55.19, for a total transaction of $1,103,800.00. Following the transaction, the director now owns 380,000 shares of the company’s stock, valued at $20,972,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rahul Kanwar sold 140,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the completion of the transaction, the chief operating officer now directly owns 50,000 shares in the company, valued at approximately $2,838,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,000 shares of company stock valued at $12,353,800. Insiders own 14.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SSNC. Morgan Stanley dropped their target price on SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, October 27th. UBS Group assumed coverage on SS&C Technologies in a research note on Tuesday, November 7th. They set a “buy” rating and a $72.00 price target on the stock. Credit Suisse Group boosted their price target on SS&C Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Needham & Company LLC decreased their price target on SS&C Technologies from $71.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $66.33.

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.