SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 533.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 50,946 shares of the technology company’s stock after buying an additional 42,901 shares during the quarter. QRG Capital Management Inc.’s holdings in SS&C Technologies were worth $3,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in SS&C Technologies by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after acquiring an additional 196 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of SS&C Technologies by 2.9% during the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after purchasing an additional 198 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after purchasing an additional 203 shares during the period. Benjamin Edwards Inc. increased 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 valued at $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in SS&C Technologies by 0.4% during the third quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after buying an additional 206 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSNC has been the subject of a number of research analyst reports. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Raymond James upped their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Finally, DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Two 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. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $77.75.

Insider Activity

In related 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 transaction of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is currently owned by company insiders.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $74.17 on Thursday. SS&C Technologies Holdings, Inc. has a twelve month low of $51.92 and a twelve month high of $77.02. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 26.58 and a beta of 1.39. 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 firm’s fifty day simple moving average is $73.96 and its 200 day simple moving average is $68.32.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 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. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies declared that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.