MQS Management LLC Invests $538,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

MQS Management LLC bought a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,248 shares of the technology company’s stock, valued at approximately $538,000.

A number of other large investors have also recently added to or reduced their stakes in SSNC. Innealta Capital LLC bought a new position in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. increased its holdings in SS&C Technologies by 43.3% during 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 during the last quarter. Versant Capital Management Inc grew its position in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter valued at about $47,000. Institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James lifted their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of SS&C Technologies 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 research report on Tuesday, November 5th. Royal Bank of Canada lifted their price target 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 reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Two 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Up 0.7 %

Shares of SSNC opened at $74.85 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52-week low of $53.46 and a 52-week high of $77.02. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 26.83 and a beta of 1.39. The business’s fifty day moving average is $73.98 and its 200-day moving average is $68.78.

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

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

SS&C Technologies declared that its board has initiated a stock buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The stock was 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 directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 57,642 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of 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. Over the last quarter, insiders have sold 561,190 shares of company stock valued at $41,386,285. 15.40% of the stock is currently owned by insiders.

About SS&C Technologies

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.