DekaBank Deutsche Girozentrale Purchases 570 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

DekaBank Deutsche Girozentrale increased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.0% in the second quarter, Holdings Channel.com reports. The fund owned 59,035 shares of the technology company’s stock after purchasing an additional 570 shares during the period. DekaBank Deutsche Girozentrale’s holdings in SS&C Technologies were worth $3,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. bought a new position in SS&C Technologies during the 2nd quarter valued at about $1,178,000. Perritt Capital Management Inc bought a new position in SS&C Technologies during the second quarter valued at approximately $474,000. American Century Companies Inc. boosted its holdings in SS&C Technologies by 9.9% in the second quarter. American Century Companies Inc. now owns 16,245 shares of the technology company’s stock worth $1,018,000 after purchasing an additional 1,460 shares during the last quarter. Royal London Asset Management Ltd. grew its position in SS&C Technologies by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 78,232 shares of the technology company’s stock worth $4,903,000 after purchasing an additional 224 shares during the period. Finally, Choreo LLC purchased a new stake in SS&C Technologies during the 2nd quarter valued at $391,000. 96.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SSNC has been the topic of a number of research reports. Needham & Company LLC raised their price target 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. DA Davidson boosted their price target on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.75.

Insider Buying and Selling at SS&C Technologies

In other news, 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 sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s 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 transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders sold 590,690 shares of company stock worth $43,377,625 over the last 90 days. 15.40% of the stock is owned by insiders.

SS&C Technologies Stock Down 0.2 %

SSNC opened at $75.36 on Thursday. The company has a market capitalization of $18.64 billion, a PE ratio of 30.02 and a beta of 1.38. The firm has a 50-day simple moving average of $71.31 and a two-hundred day simple moving average of $65.49. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $76.69.

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 company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast 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 declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. SS&C Technologies’s dividend payout ratio is presently 39.84%.

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.