Y Intercept Hong Kong Ltd Sells 5,308 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Y Intercept Hong Kong Ltd lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 38.5% in the third quarter, HoldingsChannel reports. The firm owned 8,465 shares of the technology company’s stock after selling 5,308 shares during the period. Y Intercept Hong Kong Ltd’s holdings in SS&C Technologies were worth $628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SSNC. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SS&C Technologies by 63.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,326 shares of the technology company’s stock worth $396,000 after acquiring an additional 2,453 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of SS&C Technologies by 2,178.2% in the second 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 in the last quarter. ZWJ Investment Counsel Inc. increased its holdings 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 worth $19,469,000 after acquiring an additional 13,820 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $264,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of SS&C Technologies in the second quarter worth about $47,000. Institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. DA Davidson reaffirmed a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Raymond James upped their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC opened at $76.67 on Friday. The stock has a 50 day moving average price of $74.76 and a 200 day moving average price of $70.84. SS&C Technologies Holdings, Inc. has a 52 week low of $58.79 and a 52 week high of $77.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $18.99 billion, a PE ratio of 27.48 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. SS&C Technologies’s payout ratio is 35.84%.

Insider Activity

In other news, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. This trade represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 598,000 shares of company stock valued at $45,704,308 over the last three months. 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.