Valley National Advisers Inc. Sells 3,961 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Valley National Advisers Inc. lessened its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 75.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,291 shares of the technology company’s stock after selling 3,961 shares during the period. Valley National Advisers Inc.’s holdings in SS&C Technologies were worth $95,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC boosted its position in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after buying an additional 172 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of SS&C Technologies in the second quarter worth approximately $35,000. Benjamin Edwards Inc. raised its holdings in shares of SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after purchasing an additional 693 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC opened at $70.13 on Tuesday. The stock has a market cap of $17.34 billion, a PE ratio of 27.94 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1 year low of $48.65 and a 1 year high of $77.02. The firm has a fifty day moving average price of $74.32 and a 200-day moving average price of $67.85. 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 announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.62% and a net margin of 12.26%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

Insider Buying and Selling

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday. DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday. Raymond James upped 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. Finally, Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

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.