Massachusetts Financial Services Co. MA Sells 1,178 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Massachusetts Financial Services Co. MA cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,820 shares of the technology company’s stock after selling 1,178 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in SS&C Technologies were worth $11,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. boosted its stake in SS&C Technologies by 0.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after acquiring an additional 53,080 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after acquiring an additional 201,632 shares during the last quarter. Millennium Management LLC grew 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 valued at $213,070,000 after buying an additional 1,120,961 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SS&C Technologies by 14.9% in the 2nd 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. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in SS&C Technologies by 3.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,573,909 shares of the technology company’s stock worth $98,637,000 after buying an additional 48,488 shares during the period. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Trading Up 0.3 %

Shares of SS&C Technologies stock opened at $77.10 on Wednesday. SS&C Technologies Holdings, Inc. has a 12-month low of $55.45 and a 12-month high of $77.50. The stock has a market cap of $19.10 billion, a P/E ratio of 27.63 and a beta of 1.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $74.13 and its 200-day moving average is $69.52.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their position. The transaction 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 business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The trade was a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James increased 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. Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Company 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.