Sky Investment Group LLC Takes $200,000 Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sky Investment Group LLC purchased a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,700 shares of the technology company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SSNC. SG Americas Securities LLC lifted its stake in SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after buying an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in SS&C Technologies by 2,178.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after purchasing an additional 100,197 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in SS&C Technologies during the 2nd quarter valued at about $1,661,000. Finally, Burgundy Asset Management Ltd. grew its position in SS&C Technologies by 4.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SSNC shares. Needham & Company LLC lifted their price target on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Price Performance

Shares of SSNC stock traded down $0.42 during mid-day trading on Tuesday, hitting $75.71. 122,960 shares of the stock traded hands, compared to its average volume of 1,018,030. SS&C Technologies Holdings, Inc. has a twelve month low of $46.61 and a twelve month high of $77.02. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50-day simple moving average is $74.20 and its 200-day simple moving average is $67.46. The firm has a market cap of $18.58 billion, a price-to-earnings ratio of 27.68 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 analysts’ consensus estimates 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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $0.96 earnings per share. SS&C Technologies’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.25 dividend. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s payout ratio is presently 36.36%.

SS&C Technologies announced that its Board of Directors has approved a stock buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction 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 directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’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 directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 609,690 shares of company stock worth $44,821,055. Corporate 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.