Park Avenue Securities LLC Acquires 637 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Park Avenue Securities LLC raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,990 shares of the technology company’s stock after purchasing an additional 637 shares during the quarter. Park Avenue Securities LLC’s holdings in SS&C Technologies were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Swedbank AB purchased a new stake in SS&C Technologies during the first quarter worth about $94,939,000. Millennium Management LLC raised its holdings in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after purchasing an additional 1,120,961 shares during the period. AQR Capital Management LLC lifted its stake in SS&C Technologies by 82.1% in the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after purchasing an additional 571,334 shares during the last quarter. Capital International Investors grew its holdings in SS&C Technologies by 111.1% during the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after purchasing an additional 564,017 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in SS&C Technologies in the first quarter worth $31,305,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSNC. DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC raised their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

SS&C Technologies Stock Up 1.9 %

SSNC opened at $75.44 on Monday. The firm has a market capitalization of $18.51 billion, a P/E ratio of 27.43 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $76.94. The company has a fifty day moving average price of $73.44 and a 200-day moving average price of $66.92. 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 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.33%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is currently 36.36%.

SS&C Technologies declared that its board has initiated a share 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 a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. 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. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last ninety days. 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.