Pekin Hardy Strauss Inc. Has $4.98 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Pekin Hardy Strauss Inc. lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,514 shares of the technology company’s stock after selling 8,670 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $4,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its position in shares of SS&C Technologies by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock worth $934,595,000 after acquiring an additional 46,211 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of SS&C Technologies by 0.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after buying an additional 53,080 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of SS&C Technologies by 0.5% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,740,742 shares of the technology company’s stock worth $305,162,000 after buying an additional 23,950 shares during the last quarter. Franklin Resources Inc. boosted its stake in SS&C Technologies by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 3,871,753 shares of the technology company’s stock valued at $236,603,000 after buying an additional 56,002 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in SS&C Technologies by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after acquiring an additional 25,183 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $75.51 on Tuesday. The firm has a market cap of $18.68 billion, a P/E ratio of 30.08 and a beta of 1.38. The stock’s 50 day moving average is $70.76 and its 200 day moving average is $65.33. 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 Holdings, Inc. has a one year low of $46.61 and a one year high of $75.67.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS 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 net margin of 12.33% and a return on equity of 17.43%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. As a group, research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently declared 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 yield of 1.32%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Rahul Kanwar sold 412,190 shares of the business’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 completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

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.