Shapiro Capital Management LLC Has $109.74 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Shapiro Capital Management LLC cut its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,751,134 shares of the technology company’s stock after selling 148,923 shares during the period. SS&C Technologies comprises approximately 3.3% of Shapiro Capital Management LLC’s holdings, making the stock its 13th largest holding. Shapiro Capital Management LLC’s holdings in SS&C Technologies were worth $109,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Distillate Capital Partners LLC boosted its stake in shares of SS&C Technologies by 107,244.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 232,938 shares of the technology company’s stock valued at $14,598,000 after purchasing an additional 232,721 shares in the last quarter. Progeny 3 Inc. increased its stake in shares of SS&C Technologies by 49.2% in the second quarter. Progeny 3 Inc. now owns 751,600 shares of the technology company’s stock valued at $47,103,000 after buying an additional 248,000 shares in the last quarter. Marshall Wace LLP lifted its position in shares of SS&C Technologies by 42.8% during the second quarter. Marshall Wace LLP now owns 8,741 shares of the technology company’s stock worth $548,000 after purchasing an additional 2,618 shares in the last quarter. Magnetar Financial LLC increased its position in SS&C Technologies by 877.4% in the second quarter. Magnetar Financial LLC now owns 73,089 shares of the technology company’s stock worth $4,580,000 after purchasing an additional 65,611 shares during the period. Finally, Heron Bay Capital Management grew its holdings in SS&C Technologies by 24.3% during the 2nd quarter. Heron Bay Capital Management now owns 305,443 shares of the technology company’s stock worth $19,142,000 after acquiring an additional 59,678 shares during the period. Institutional investors own 96.95% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 590,690 shares of company stock valued at $43,377,625. Corporate insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. DA Davidson increased their price target on shares of SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised 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 note on Thursday, September 19th. Finally, Needham & Company LLC increased their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Trading Down 0.3 %

Shares of SS&C Technologies stock opened at $75.27 on Tuesday. The company has a market capitalization of $18.62 billion, a price-to-earnings ratio of 29.99 and a beta of 1.38. The business has a fifty day simple moving average of $72.24 and a two-hundred day simple moving average of $65.85. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $76.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.96 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

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.