2,722 Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. bought a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,722 shares of the technology company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in SS&C Technologies during the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. increased its position in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc increased its position in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after purchasing an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in SS&C Technologies during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSNC. Raymond James upped their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped 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. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, DA Davidson restated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $71.90 on Wednesday. The stock has a market cap of $17.81 billion, a P/E ratio of 25.77 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $74.00 and a 200-day moving average of $68.20. SS&C Technologies Holdings, Inc. has a 52 week low of $51.72 and a 52 week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. On average, analysts expect 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 of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.39%. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

SS&C Technologies declared that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 over the last three months. Company insiders own 15.40% of the company’s stock.

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.