Legacy Capital Group California Inc. Makes New Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Legacy Capital Group California Inc. purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,839 shares of the technology company’s stock, valued at approximately $211,000.

Several other hedge funds have also recently modified their holdings of SSNC. Quent Capital LLC increased its stake in shares of SS&C Technologies by 76.8% in the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after acquiring an additional 172 shares during the period. Innealta Capital LLC purchased a new position in shares of SS&C Technologies during the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies in the second quarter valued at about $35,000. Benjamin Edwards Inc. boosted its holdings in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after purchasing an additional 693 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Price Performance

SSNC opened at $70.04 on Friday. The stock’s 50-day moving average price is $74.38 and its 200 day moving average price is $67.75. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $77.02. The firm has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 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 (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. 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 annualized dividend and a dividend yield of 1.43%. SS&C Technologies’s payout ratio is 39.84%.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Raymond James raised their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Insider Transactions at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction 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 directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction 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 $4,215,359.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by company insiders.

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.