Short Interest in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Drops By 14.4%

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,550,000 shares, a decline of 14.4% from the February 13th total of 2,980,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.2% of the company’s shares are short sold.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares in the company, valued at $2,050,648. This represents a 49.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC bought a new position in shares of SS&C Technologies during the fourth quarter valued at $39,000. Parkside Financial Bank & Trust lifted its holdings in shares of SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after purchasing an additional 229 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock valued at $42,000 after purchasing an additional 390 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock valued at $42,000 after purchasing an additional 342 shares in the last quarter. Finally, Financial Perspectives Inc bought a new position in shares of SS&C Technologies during the fourth quarter valued at $51,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Trading Down 0.4 %

NASDAQ SSNC opened at $81.75 on Wednesday. SS&C Technologies has a 12 month low of $59.63 and a 12 month high of $89.73. The stock has a market cap of $20.15 billion, a P/E ratio of 27.25 and a beta of 1.36. The stock’s fifty day moving average price is $83.20 and its 200-day moving average price is $77.75. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. As a group, equities analysts forecast that SS&C Technologies will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SSNC shares. Royal Bank of Canada upped their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Needham & Company LLC upped their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. DA Davidson upped their price target on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, UBS Group upped their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $97.50.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.