Dark Forest Capital Management LP Has $6.08 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Dark Forest Capital Management LP grew its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 119.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 96,974 shares of the technology company’s stock after purchasing an additional 52,725 shares during the period. SS&C Technologies makes up approximately 1.1% of Dark Forest Capital Management LP’s holdings, making the stock its 9th largest position. Dark Forest Capital Management LP’s holdings in SS&C Technologies were worth $6,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSNC. APG Asset Management N.V. boosted its stake in SS&C Technologies by 62.6% in the 2nd quarter. APG Asset Management N.V. now owns 451,166 shares of the technology company’s stock worth $26,382,000 after purchasing an additional 173,687 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of SS&C Technologies by 82.1% in the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after buying an additional 571,334 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of SS&C Technologies by 19.7% in the second quarter. Toronto Dominion Bank now owns 25,415 shares of the technology company’s stock worth $1,593,000 after buying an additional 4,187 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after acquiring an additional 6,624 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in SS&C Technologies by 60.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,607 shares of the technology company’s stock valued at $2,670,000 after purchasing an additional 16,132 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SSNC shares. Needham & Company LLC boosted their target price on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson lifted their price objective on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s 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 completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,690 shares of company stock worth $44,821,055. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Down 1.3 %

Shares of SSNC stock opened at $73.85 on Thursday. 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 company has a market cap of $18.12 billion, a price-to-earnings ratio of 29.42 and a beta of 1.38. 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 fifty day moving average price of $72.50 and a 200-day moving average price of $66.00.

SS&C Technologies (NASDAQ:SSNC) last released 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. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.35%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is currently 39.84%.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About SS&C Technologies

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.