SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Large Drop in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,250,000 shares, a decrease of 22.4% from the August 15th total of 1,610,000 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 989,500 shares, the short-interest ratio is presently 1.3 days.

Insiders Place Their Bets

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction 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 $4,215,359.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its holdings in 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 purchasing an additional 6,624 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of SS&C Technologies in the second quarter valued at about $1,904,000. Delphi Management Inc. MA raised its position 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 worth $1,772,000 after acquiring an additional 7,057 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of SS&C Technologies by 37.0% in the second quarter. Brandes Investment Partners LP now owns 748,324 shares of the technology company’s stock worth $46,881,000 after acquiring an additional 202,126 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in SS&C Technologies by 285.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock valued at $140,000 after acquiring an additional 1,657 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Up 1.0 %

NASDAQ SSNC opened at $75.51 on Tuesday. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 30.08 and a beta of 1.38. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $75.67. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The business’s fifty day moving average is $70.76 and its 200 day moving average is $65.33.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating 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 last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is 39.84%.

Wall Street Analyst Weigh In

SSNC has been the subject of several analyst reports. DA Davidson boosted their target price on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC upped their target price 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. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $70.75.

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.