Swiss National Bank Buys 2,300 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Swiss National Bank raised its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 660,700 shares of the technology company’s stock after purchasing an additional 2,300 shares during the period. Swiss National Bank’s holdings in SS&C Technologies were worth $49,031,000 at the end of the most recent quarter.

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

SS&C Technologies Price Performance

SSNC opened at $73.43 on Thursday. SS&C Technologies Holdings, Inc. has a fifty-two week low of $54.80 and a fifty-two week high of $77.02. The firm has a 50-day moving average of $74.05 and a 200 day moving average of $69.20. 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 firm has a market cap of $18.19 billion, a P/E ratio of 26.32 and a beta of 1.39.

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

SS&C Technologies announced that its board has initiated a stock buyback 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 repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Wall Street Analyst Weigh In

SSNC has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. DA Davidson restated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Raymond James raised their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Two 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.75.

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.