Tectonic Advisors LLC Increases Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Tectonic Advisors LLC lifted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,064 shares of the technology company’s stock after buying an additional 198 shares during the quarter. Tectonic Advisors LLC’s holdings in SS&C Technologies were worth $524,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SSNC. Swedbank AB purchased a new position in shares of SS&C Technologies in the first quarter valued at about $94,939,000. Millennium Management LLC lifted its holdings in 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 in the last quarter. AQR Capital Management LLC boosted its stake in SS&C Technologies by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after purchasing an additional 571,334 shares during the period. Capital International Investors grew its holdings in SS&C Technologies by 111.1% during the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after buying an additional 564,017 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of SS&C Technologies during the first quarter valued at approximately $31,305,000. Institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Raymond James raised their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday. Finally, Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SS&C Technologies currently has an average rating of “Moderate Buy” and an average price target of $75.00.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $70.04 on Friday. The stock has a 50 day moving average price of $74.38 and a 200-day moving average price of $67.71. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $77.02. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share 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 analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed 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 of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.43%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

SS&C Technologies declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at SS&C Technologies

In related news, 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 sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 over the last 90 days. Company insiders own 15.40% of the company’s stock.

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.