SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Update

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,570,000 shares, an increase of 25.6% from the August 31st total of 1,250,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 1.5 days. Currently, 0.7% of the shares of the company are sold short.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred 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 completion of the sale, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock valued at $44,821,055 over the last ninety days. 15.40% of the stock is currently owned by insiders.

Institutional Trading of SS&C Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in SS&C Technologies in the 4th quarter worth approximately $170,000. Nomura Asset Management Co. Ltd. grew its stake in SS&C Technologies by 8.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 58,235 shares of the technology company’s stock valued at $3,559,000 after acquiring an additional 4,700 shares in the last quarter. TD Asset Management Inc increased its holdings in SS&C Technologies by 11.7% in the 4th quarter. TD Asset Management Inc now owns 53,988 shares of the technology company’s stock valued at $3,299,000 after acquiring an additional 5,657 shares during the last quarter. Stifel Financial Corp lifted its stake in SS&C Technologies by 4.1% in the 4th quarter. Stifel Financial Corp now owns 175,435 shares of the technology company’s stock worth $10,721,000 after purchasing an additional 6,932 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of SS&C Technologies by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,175 shares of the technology company’s stock valued at $6,244,000 after purchasing an additional 964 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors.

SS&C Technologies Stock Down 0.8 %

SSNC traded down $0.56 during trading on Friday, reaching $73.92. The stock had a trading volume of 1,250,268 shares, compared to its average volume of 1,008,159. The stock’s 50 day moving average is $72.78 and its two-hundred day moving average is $66.14. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 29.45 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies has a one year low of $46.61 and a one year high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last posted 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. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, analysts expect that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SSNC has been the subject of several research reports. DA Davidson upped their target price on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada lifted their target price on shares of 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 analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.75.

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.