Foundations Investment Advisors LLC Invests $228,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Foundations Investment Advisors LLC acquired a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, HoldingsChannel reports. The firm acquired 3,078 shares of the technology company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SSNC. SG Americas Securities LLC increased its stake in SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after purchasing an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of SS&C Technologies by 2,178.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after buying an additional 100,197 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after acquiring an additional 11,497 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SS&C Technologies in the second quarter valued at $1,661,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s 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 sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. 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 quarter, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Stock Down 6.8 %

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

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. As a group, analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies declared that its board has initiated a stock repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. SS&C Technologies’s payout ratio is 39.84%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SSNC shares. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada raised 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 report on Thursday, September 19th. Finally, Raymond James increased their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average 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.