2,975 Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,975 shares of the technology company’s stock, valued at approximately $221,000.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of SS&C Technologies in the 2nd quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the second quarter worth about $35,000. Benjamin Edwards Inc. grew its stake in SS&C Technologies by 43.3% during the second 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 increased its holdings 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 buying an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of SS&C Technologies in the second quarter valued at approximately $47,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SSNC shares. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Raymond James boosted 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 note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of “Buy” and an average price target of $77.75.

SS&C Technologies Price Performance

SSNC opened at $74.84 on Tuesday. The company has a fifty day moving average price of $73.95 and a two-hundred day moving average price of $68.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $18.54 billion, a PE ratio of 26.82 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52 week low of $52.37 and a 52 week high of $77.02.

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 analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.34%. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

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

Insider Activity at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, 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 sold 561,190 shares of company stock worth $41,386,285. 15.40% of the stock is currently 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.