SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Up 25.6% in September

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,570,000 shares, an increase of 25.6% from the August 31st total of 1,250,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is presently 1.5 days.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the 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 directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Large investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SS&C Technologies during the 2nd quarter worth approximately $1,661,000. University of Texas Texas AM Investment Management Co. raised its holdings in shares of SS&C Technologies by 156.3% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 73,392 shares of the technology company’s stock worth $4,599,000 after acquiring an additional 44,762 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of SS&C Technologies by 183.9% in the second quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after acquiring an additional 6,624 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of SS&C Technologies in the second quarter valued at $1,904,000. Finally, Delphi Management Inc. MA boosted its stake in shares of SS&C Technologies by 33.2% during the second quarter. Delphi Management Inc. MA now owns 28,282 shares of the technology company’s stock valued at $1,772,000 after acquiring an additional 7,057 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on SSNC shares. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC lifted their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, DA Davidson increased their target price on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $73.92 on Monday. The firm has a market capitalization of $18.14 billion, a price-to-earnings ratio of 29.45 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50 day simple moving average is $72.78 and its 200-day simple moving average is $66.18. SS&C Technologies has a 12 month low of $46.61 and a 12 month high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 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 company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $0.96 earnings per share. SS&C Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

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

About SS&C Technologies

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.