Creative Planning Sells 1,598 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Creative Planning lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.7% during the third quarter, HoldingsChannel reports. The firm owned 6,533 shares of the technology company’s stock after selling 1,598 shares during the quarter. Creative Planning’s holdings in SS&C Technologies were worth $485,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of SS&C Technologies in the 2nd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies during the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. boosted its stake in shares of 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. Versant Capital Management Inc boosted its stake in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter worth approximately $47,000. 96.95% of the stock is currently owned by institutional investors.

SS&C Technologies Stock Up 3.2 %

Shares of SSNC stock opened at $74.17 on Thursday. The company’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $68.32. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $18.37 billion, a P/E ratio of 26.58 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52 week low of $51.92 and a 52 week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is presently 35.84%.

SS&C Technologies declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

SSNC has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Raymond James raised their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. DA Davidson reaffirmed a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. 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. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $77.75.

Insider Activity at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now owns 9,576 shares in the company, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by company insiders.

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.