Verdence Capital Advisors LLC Acquires 2,489 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Verdence Capital Advisors LLC raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,629 shares of the technology company’s stock after buying an additional 2,489 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SS&C Technologies were worth $5,742,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in SS&C Technologies by 14.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after acquiring an additional 166 shares in the last quarter. Quent Capital LLC boosted its stake in shares of SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after purchasing an additional 172 shares in the last quarter. Scotia Capital Inc. increased its position in shares of SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after buying an additional 191 shares during the period. Graypoint LLC raised its stake in SS&C Technologies by 2.6% in the first quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock worth $530,000 after buying an additional 207 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in SS&C Technologies by 4.9% in the first quarter. Yousif Capital Management LLC now owns 4,477 shares of the technology company’s stock worth $288,000 after buying an additional 211 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael Jay Zamkow sold 7,500 shares of SS&C Technologies stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total value of $453,450.00. Following the completion of the sale, the director now owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 468,190 shares of company stock worth $34,031,675. 15.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SSNC shares. Royal Bank of Canada upped their target price on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. DA Davidson increased their price objective on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price objective on SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Needham & Company LLC upped their target price on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $70.75.

SS&C Technologies Stock Up 0.2 %

SS&C Technologies stock traded up $0.15 during mid-day trading on Monday, reaching $74.18. The stock had a trading volume of 850,725 shares, compared to its average volume of 986,226. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $74.94. The company has a 50-day moving average price of $67.31 and a two-hundred day moving average price of $64.19. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 29.69 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

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

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

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.