SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,991 shares of the technology company’s stock after selling 2,431 shares during the quarter. Principal Financial Group Inc.’s holdings in SS&C Technologies were worth $1,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SSNC. Quent Capital LLC grew its position in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after buying an additional 172 shares during the period. Innealta Capital LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. ST Germain D J Co. Inc. acquired a new position in SS&C Technologies in the 1st quarter worth about $27,000. Versant Capital Management Inc boosted its position in SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after purchasing an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in SS&C Technologies in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 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 filing with the SEC, which is available through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction 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. Insiders have sold 468,190 shares of company stock worth $34,031,675 over the last quarter. 15.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SSNC shares. Royal Bank of Canada increased their target price on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC upped their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, DA Davidson boosted their price objective on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. 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. 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 Price Performance

SSNC stock opened at $73.70 on Friday. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.10. 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 firm has a market capitalization of $18.23 billion, a PE ratio of 29.36 and a beta of 1.38. The business has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $65.23.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. 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 will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.36%. SS&C Technologies’s dividend payout ratio (DPR) is 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.