Assetmark Inc. Acquires 780 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Assetmark Inc. grew its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 52,398 shares of the technology company’s stock after acquiring an additional 780 shares during the quarter. Assetmark Inc.’s holdings in SS&C Technologies were worth $3,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in SS&C Technologies by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock valued at $3,435,000 after purchasing an additional 196 shares during the period. Tectonic Advisors LLC boosted its stake in shares of SS&C Technologies by 2.9% during the 3rd quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock valued at $524,000 after purchasing an additional 198 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after buying an additional 203 shares during the period. Benjamin Edwards Inc. raised its stake in 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 buying an additional 204 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in 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 buying an additional 206 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Down 0.7 %

NASDAQ:SSNC opened at $74.30 on Wednesday. SS&C Technologies Holdings, Inc. has a 52 week low of $52.37 and a 52 week high of $77.02. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 26.63 and a beta of 1.39. The company’s 50 day moving average price is $73.96 and its 200-day moving average price is $68.74. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SSNC has been the subject of several research reports. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Raymond James increased 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 research note on Friday, October 25th. Finally, StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $77.75.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’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 sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,190 shares of company stock worth $41,386,285 over the last quarter. Company insiders own 15.40% of the company’s stock.

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.