SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Position Boosted by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 91,629 shares of the technology company’s stock after acquiring an additional 2,489 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SS&C Technologies were worth $5,742,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in SS&C Technologies by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 1,289,558 shares of the technology company’s stock valued at $80,817,000 after buying an additional 78,984 shares in the last quarter. First National Bank of Hutchinson boosted its stake in shares of SS&C Technologies by 5.8% in the 2nd quarter. First National Bank of Hutchinson now owns 12,630 shares of the technology company’s stock valued at $792,000 after purchasing an additional 697 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in SS&C Technologies during the second quarter worth about $47,000. Pallas Capital Advisors LLC acquired a new stake in SS&C Technologies during the 2nd quarter valued at $264,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of SS&C Technologies by 4.7% in the second quarter. ZWJ Investment Counsel Inc. now owns 310,664 shares of the technology company’s stock valued at $19,469,000 after buying an additional 13,820 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $60.46, for a total value of $453,450.00. Following the completion of the sale, the director now directly owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 468,190 shares of company stock valued at $34,031,675. 15.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SSNC shares. Jefferies Financial Group upped their price target on SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Needham & Company LLC increased their price target on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price objective on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, DA Davidson lifted their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $70.75.

SS&C Technologies Stock Up 0.2 %

SS&C Technologies stock traded up $0.15 during mid-day trading on Monday, reaching $74.18. The company’s stock had a trading volume of 850,725 shares, compared to its average volume of 986,226. The business’s 50 day simple moving average is $67.31 and its 200 day simple moving average is $64.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $74.94. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 29.69 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. SS&C Technologies’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is 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 presently 39.84%.

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.