SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Stock Holdings Reduced by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,295 shares of the technology company’s stock after selling 479 shares during the quarter. Amalgamated Bank’s holdings in SS&C Technologies were worth $838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SSNC. Innealta Capital LLC acquired a new position in shares of SS&C Technologies during the second quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of SS&C Technologies during the second quarter worth $35,000. Benjamin Edwards Inc. increased its holdings 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 purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc boosted its holdings in SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in SS&C Technologies in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This trade represents a 87.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the 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 completion of the sale, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This trade represents a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,190 shares of company stock valued at $41,386,285. 15.40% of the stock is currently owned by company insiders.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $74.23 on Friday. The company’s 50 day moving average price is $74.00 and its two-hundred day moving average price is $68.82. The firm has a market capitalization of $18.39 billion, a P/E ratio of 26.61 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. SS&C Technologies Holdings, Inc. has a fifty-two week low of $54.40 and a fifty-two week high of $77.02.

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

SS&C Technologies declared that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is 35.84%.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several recent analyst reports. Raymond James lifted their price objective 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, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Two 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 company. Based on data from MarketBeat.com, SS&C Technologies presently has a consensus rating of “Buy” and a consensus price target of $77.75.

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.