Oldfield Partners LLP Sells 246,600 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Oldfield Partners LLP trimmed its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 849,800 shares of the technology company’s stock after selling 246,600 shares during the quarter. SS&C Technologies accounts for about 13.3% of Oldfield Partners LLP’s investment portfolio, making the stock its 2nd biggest position. Oldfield Partners LLP owned approximately 0.35% of SS&C Technologies worth $63,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of SS&C Technologies by 39.3% during the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after buying an additional 18,878 shares during the period. Assenagon Asset Management S.A. raised its stake in SS&C Technologies by 2,178.2% during 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 purchasing an additional 100,197 shares during the period. 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 valued at $16,341,000 after purchasing an additional 11,497 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SS&C Technologies in the second quarter worth $1,661,000. Finally, Burgundy Asset Management Ltd. increased its stake in shares of 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 worth $309,739,000 after acquiring an additional 201,632 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $76.13 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market cap of $18.68 billion, a PE ratio of 27.68 and a beta of 1.38. The company’s 50 day moving average price is $74.20 and its two-hundred day moving average price is $67.46. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) 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 firm 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

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

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is a positive change 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 1.31%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 36.36%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction 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 sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 609,690 shares of company stock valued at $44,821,055. Company insiders own 15.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SSNC. Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC increased their target price on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, DA Davidson reissued a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.75.

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.