Wealth Enhancement Advisory Services LLC Buys 6,027 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Wealth Enhancement Advisory Services LLC increased its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 95.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,353 shares of the technology company’s stock after buying an additional 6,027 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SS&C Technologies were worth $917,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in SS&C Technologies in the second quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new position in SS&C Technologies in the second quarter worth about $35,000. Benjamin Edwards Inc. raised its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc raised its stake in SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in SS&C Technologies in the second quarter worth about $47,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Price Performance

SSNC stock opened at $71.90 on Wednesday. SS&C Technologies Holdings, Inc. has a 12 month low of $51.72 and a 12 month high of $77.02. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $74.00 and a 200 day moving average price of $68.20. The stock has a market cap of $17.81 billion, a PE ratio of 25.77 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. 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 dividend on an annualized basis and a yield of 1.39%. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped 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. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Raymond James upped their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.75.

Insider Activity at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. 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 in the last 90 days. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies 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.