Verition Fund Management LLC Has $3.15 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Verition Fund Management LLC raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 937.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,450 shares of the technology company’s stock after acquiring an additional 38,359 shares during the period. Verition Fund Management LLC’s holdings in SS&C Technologies were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. grew its stake in SS&C Technologies by 0.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after acquiring an additional 53,080 shares during the period. Burgundy Asset Management Ltd. boosted its position in shares of SS&C Technologies by 4.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after buying an additional 201,632 shares during the period. FMR LLC boosted its position in shares of SS&C Technologies by 1.5% during the third quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock worth $295,657,000 after buying an additional 58,389 shares during the period. Millennium Management LLC boosted its position in shares of SS&C Technologies by 49.2% during the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after buying an additional 1,120,961 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SS&C Technologies by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after buying an additional 349,911 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Raymond James increased their target price on 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. Finally, StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Up 0.3 %

Shares of SSNC stock opened at $76.91 on Thursday. The stock’s fifty day moving average price is $74.39 and its two-hundred day moving average price is $70.15. The company has a market cap of $19.05 billion, a PE ratio of 27.57 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a fifty-two week low of $56.10 and a fifty-two week high of $77.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.04 EPS. SS&C Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

Insider Activity at SS&C Technologies

In related news, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This trade represents a 28.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,000 shares of company stock valued at $16,560,660 in the last 90 days. 15.40% of the stock is owned by corporate insiders.

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.