Assenagon Asset Management S.A. Acquires 67,915 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Assenagon Asset Management S.A. boosted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 64.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,712 shares of the technology company’s stock after buying an additional 67,915 shares during the quarter. Assenagon Asset Management S.A.’s holdings in SS&C Technologies were worth $12,817,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. 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 purchasing an additional 172 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock worth $446,000 after purchasing an additional 203 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of SS&C Technologies by 0.4% in the third quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after purchasing an additional 206 shares in the last quarter. Finally, Graypoint LLC increased its stake in shares of SS&C Technologies by 2.6% in the first quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock worth $530,000 after purchasing an additional 207 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Raymond James upped their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday. Finally, Royal Bank of Canada upped 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $77.75.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 $25,144,958.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is currently owned by insiders.

SS&C Technologies Price Performance

SSNC stock opened at $70.04 on Monday. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $74.38 and a two-hundred day simple moving average of $67.79. The firm has a market capitalization of $17.32 billion, a P/E ratio of 27.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. SS&C Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, September 3rd. This is a positive change 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 declared that its board has approved a stock buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.