Atria Investments Inc Sells 248 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Atria Investments Inc reduced its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,989 shares of the technology company’s stock after selling 248 shares during the period. Atria Investments Inc’s holdings in SS&C Technologies were worth $1,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies in the second quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. grew its stake in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc increased its holdings in SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in SS&C Technologies during the second quarter worth $47,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $73.40 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a fifty-two week low of $54.44 and a fifty-two week high of $77.02. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The stock has a fifty day moving average price of $74.03 and a 200-day moving average price of $69.01.

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 net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

Insider Activity

In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 45.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the business’s 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 owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 561,190 shares of company stock worth $41,386,285. Insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SSNC. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Raymond James upped 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, October 25th. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.