SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 114,511 shares of the technology company’s stock after selling 9,037 shares during the quarter. ProShare Advisors LLC’s holdings in SS&C Technologies were worth $7,176,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SSNC. Quent Capital LLC raised its holdings in shares of SS&C Technologies by 76.8% during the 1st 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 acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. ST Germain D J Co. Inc. acquired a new stake in SS&C Technologies during the first quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter valued at approximately $35,000. Finally, Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC opened at $74.83 on Wednesday. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $76.94. The firm has a market cap of $18.36 billion, a P/E ratio of 29.81 and a beta of 1.38. The stock has a fifty day moving average price of $72.39 and a two-hundred day moving average price of $65.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last announced its 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 return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its board has authorized a stock repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.34%. SS&C Technologies’s dividend payout ratio is currently 39.84%.

Insider Buying and Selling

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated 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 of the company’s stock, valued at approximately $25,144,958.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SSNC. DA Davidson increased their price target on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Needham & Company LLC raised their target price on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their price target 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. Three investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.75.

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.