Oppenheimer & Co. Inc. Has $665,000 Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Oppenheimer & Co. Inc. trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,965 shares of the technology company’s stock after selling 500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SS&C Technologies were worth $665,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB bought a new position in SS&C Technologies during the 1st quarter worth approximately $94,939,000. Millennium Management LLC grew its stake 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 acquiring an additional 1,120,961 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of SS&C Technologies by 82.1% during 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 in the last quarter. Capital International Investors grew its position in SS&C Technologies by 111.1% in the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after purchasing an additional 564,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in SS&C Technologies by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after acquiring an additional 349,911 shares during the period. Institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SSNC shares. Royal Bank of Canada raised their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Raymond James lifted 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, October 25th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Price Performance

SSNC stock opened at $73.43 on Thursday. SS&C Technologies Holdings, Inc. has a 12-month low of $54.80 and a 12-month high of $77.02. The company has a market cap of $18.19 billion, a price-to-earnings ratio of 26.32 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 has a 50 day moving average of $74.05 and a 200-day moving average of $69.20.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. As a group, equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the 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 transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 45.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The trade was a 28.04 % decrease in their position. The disclosure for this sale can be found here. 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.