IFM Investors Pty Ltd Acquires 1,605 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

IFM Investors Pty Ltd boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,851 shares of the technology company’s stock after buying an additional 1,605 shares during the quarter. IFM Investors Pty Ltd’s holdings in SS&C Technologies were worth $3,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its stake in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after purchasing an additional 172 shares in the last quarter. Summit Trail Advisors LLC boosted its position in 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 buying an additional 203 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of 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. Wedge Capital Management L L P NC increased its holdings in shares of 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 in the last quarter. Finally, Graypoint LLC lifted its stake in shares of SS&C Technologies by 2.6% in the 1st quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock valued at $530,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Down 6.8 %

SSNC opened at $70.04 on Friday. SS&C Technologies Holdings, Inc. has a twelve month low of $46.61 and a twelve month high of $77.02. The company has a fifty day moving average of $74.38 and a 200-day moving average of $67.75. The stock has a market cap of $17.32 billion, a PE ratio of 27.90 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. On average, sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.43%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the 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 transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Smita Conjeevaram sold 48,500 shares of the 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 transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The trade was 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday. Raymond James raised their price objective 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. Finally, DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.