Van ECK Associates Corp Trims Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Van ECK Associates Corp cut its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,964 shares of the technology company’s stock after selling 2,920 shares during the quarter. Van ECK Associates Corp’s holdings in SS&C Technologies were worth $5,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC purchased a new position in SS&C Technologies during the second quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies during the second quarter worth $35,000. Benjamin Edwards Inc. lifted its stake in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. Versant Capital Management Inc increased its stake in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of SS&C Technologies during the second quarter worth $47,000. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Up 0.6 %

SS&C Technologies stock opened at $74.59 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $18.47 billion, a P/E ratio of 26.73 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a fifty-two week low of $51.92 and a fifty-two week high of $77.02. The stock has a 50-day simple moving average of $73.96 and a 200-day simple moving average of $68.36.

SS&C Technologies (NASDAQ:SSNC) last posted 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. Equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.34%. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies declared that its board has authorized a stock repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction 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 transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 609,690 shares of company stock valued at $44,821,055. Corporate insiders own 15.40% of the company’s stock.

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.