Pekin Hardy Strauss Inc. Has $4.98 Million Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pekin Hardy Strauss Inc. lessened its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 79,514 shares of the technology company’s stock after selling 8,670 shares during the period. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $4,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SSNC. Burgundy Asset Management Ltd. lifted its stake in SS&C Technologies by 2.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock valued at $288,243,000 after buying an additional 101,948 shares during the period. SG Americas Securities LLC raised its position in shares of SS&C Technologies by 39.3% in the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after acquiring an additional 18,878 shares during the period. Assenagon Asset Management S.A. boosted its stake in SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after acquiring an additional 100,197 shares during the last quarter. UBS Group AG grew its holdings in SS&C Technologies by 24.5% during the fourth quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock valued at $24,511,000 after purchasing an additional 79,029 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in SS&C Technologies by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares during the period. Institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SSNC. Needham & Company LLC raised their price objective on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, DA Davidson upped their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.75.

Insider Buying and Selling

In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at $678,172.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the 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 owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Stock Up 1.0 %

Shares of SSNC stock opened at $75.51 on Tuesday. The firm’s fifty day moving average price is $70.76 and its two-hundred day moving average price is $65.33. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $18.68 billion, a P/E ratio of 30.08 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. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 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. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

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.