DNB Asset Management AS Raises Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

DNB Asset Management AS increased its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 25.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,042 shares of the technology company’s stock after purchasing an additional 9,523 shares during the quarter. DNB Asset Management AS’s holdings in SS&C Technologies were worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its holdings in shares of SS&C Technologies by 11.2% during the fourth quarter. State of Michigan Retirement System now owns 7,970 shares of the technology company’s stock worth $487,000 after purchasing an additional 800 shares during the last quarter. Arizona State Retirement System boosted its stake in SS&C Technologies by 0.3% in the 4th quarter. Arizona State Retirement System now owns 61,366 shares of the technology company’s stock worth $3,750,000 after buying an additional 196 shares during the last quarter. International Assets Investment Management LLC grew its holdings in SS&C Technologies by 2,220.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,833 shares of the technology company’s stock valued at $112,000 after buying an additional 1,754 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SS&C Technologies by 15.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 419,787 shares of the technology company’s stock worth $25,653,000 after acquiring an additional 56,435 shares during the period. Finally, Inlet Private Wealth LLC purchased a new position in shares of SS&C Technologies during the 4th quarter worth about $742,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.94, for a total transaction of $639,400.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at $2,429,720. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 32,500 shares of company stock valued at $2,027,750 in the last ninety days. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Up 0.1 %

Shares of SSNC traded up $0.07 during midday trading on Tuesday, reaching $69.33. 1,291,955 shares of the company were exchanged, compared to its average volume of 991,628. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. SS&C Technologies Holdings, Inc. has a 1-year low of $46.61 and a 1-year high of $73.97. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 27.98 and a beta of 1.38. The stock has a 50-day moving average price of $64.28 and a 200-day moving average price of $63.08.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.96 EPS. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.38%. SS&C Technologies’s dividend payout ratio is currently 38.25%.

Analyst Upgrades and Downgrades

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

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.