MML Investors Services LLC Increases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

MML Investors Services LLC grew its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 8.8% during the third quarter, Holdings Channel.com reports. The fund owned 10,547 shares of the technology company’s stock after acquiring an additional 853 shares during the period. MML Investors Services LLC’s holdings in SS&C Technologies were worth $783,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Kensington Investment Counsel LLC raised its position in SS&C Technologies by 2.3% in the third quarter. Kensington Investment Counsel LLC now owns 15,549 shares of the technology company’s stock valued at $1,154,000 after purchasing an additional 354 shares during the period. XTX Topco Ltd purchased a new stake in shares of SS&C Technologies in the 3rd quarter valued at $218,000. Castleark Management LLC acquired a new position in SS&C Technologies during the 3rd quarter worth about $698,000. EP Wealth Advisors LLC purchased a new position in SS&C Technologies during the 3rd quarter valued at about $509,000. Finally, Kovitz Investment Group Partners LLC grew its position in SS&C Technologies by 77.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 34,897 shares of the technology company’s stock valued at $2,510,000 after acquiring an additional 15,267 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSNC. Royal Bank of Canada increased their price target 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. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Finally, DA Davidson restated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and an average target price of $77.75.

Insider Activity at SS&C Technologies

In related news, CEO William C. Stone sold 132,700 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at $2,446,744,613.10. This represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,000 shares of company stock valued at $34,461,478 in the last ninety days. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $75.82 on Friday. SS&C Technologies Holdings, Inc. has a 12 month low of $58.79 and a 12 month high of $77.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $18.78 billion, a PE ratio of 27.18 and a beta of 1.38. The business’s fifty day moving average price is $74.86 and its 200 day moving average price is $71.16.

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. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 EPS. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

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.