University of Texas Texas AM Investment Management Co. Grows Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

University of Texas Texas AM Investment Management Co. increased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 156.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,392 shares of the technology company’s stock after buying an additional 44,762 shares during the quarter. SS&C Technologies accounts for about 0.9% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 22nd largest position. University of Texas Texas AM Investment Management Co.’s holdings in SS&C Technologies were worth $4,599,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after buying an additional 18,878 shares during the period. Assenagon Asset Management S.A. raised its position in shares of SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after purchasing an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after buying an additional 11,497 shares in the last quarter. CastleKnight Management LP boosted its holdings in SS&C Technologies by 44.1% in the 4th quarter. CastleKnight Management LP now owns 16,000 shares of the technology company’s stock worth $978,000 after buying an additional 4,900 shares during the period. Finally, California State Teachers Retirement System increased its stake in SS&C Technologies by 8.9% in the 4th quarter. California State Teachers Retirement System now owns 411,931 shares of the technology company’s stock worth $25,173,000 after buying an additional 33,604 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred 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 directly owns 57,642 shares in the company, valued at $4,215,359.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC boosted their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. DA Davidson raised their price objective on SS&C Technologies from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Price Performance

SSNC opened at $73.61 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $72.91 and its 200-day simple moving average is $66.27. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 29.33 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. This is an increase 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 dividend on an annualized basis and a yield of 1.36%. SS&C Technologies’s payout ratio is 39.84%.

About SS&C Technologies

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.