American Century Companies Inc. Acquires 1,460 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

American Century Companies Inc. boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.9% during the second quarter, Holdings Channel reports. The fund owned 16,245 shares of the technology company’s stock after purchasing an additional 1,460 shares during the period. American Century Companies Inc.’s holdings in SS&C Technologies were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of SS&C Technologies in the first quarter worth $94,939,000. Junto Capital Management LP increased its position in shares of SS&C Technologies by 183.0% in the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after purchasing an additional 951,269 shares during the period. Capital International Investors increased its position in shares of SS&C Technologies by 111.1% in the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after purchasing an additional 564,017 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of SS&C Technologies in the first quarter worth $31,305,000. Finally, KBC Group NV increased its position in shares of SS&C Technologies by 243.1% in the fourth quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock worth $31,029,000 after purchasing an additional 359,741 shares during the period. Institutional investors own 96.95% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Rahul Kanwar sold 412,190 shares of the 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 transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred 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 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. In the last three months, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is currently owned by corporate insiders.

SS&C Technologies Stock Up 0.4 %

Shares of NASDAQ SSNC opened at $74.21 on Tuesday. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $76.94. 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 business’s fifty day moving average price is $72.91 and its 200-day moving average price is $66.27. The stock has a market capitalization of $18.35 billion, a PE ratio of 29.57 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies declared that its board has authorized a share buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

SS&C Technologies Increases Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson raised their price objective on SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada raised their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Needham & Company LLC raised their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SS&C Technologies presently has an average rating of “Moderate Buy” and an average target price of $73.75.

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.