Short Interest in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Drops By 22.4%

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,250,000 shares, a drop of 22.4% from the August 15th total of 1,610,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 989,500 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSNC shares. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Needham & Company LLC increased 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. Finally, DA Davidson raised their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three investment 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’s stock. Based on data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and a consensus price target of $70.75.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the sale, the director now directly owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Michael Jay Zamkow sold 7,500 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total transaction of $453,450.00. Following the transaction, the director now owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value 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 approximately $4,215,359.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,190 shares of company stock worth $34,031,675. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of SS&C Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its stake in shares of SS&C Technologies by 2.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock worth $288,243,000 after buying an additional 101,948 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after acquiring an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after acquiring an additional 100,197 shares in the last quarter. UBS Group AG raised its position in shares of SS&C Technologies by 24.5% in the 4th quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after purchasing an additional 79,029 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Trading Up 1.4 %

NASDAQ SSNC traded up $1.04 during trading on Friday, hitting $74.74. The company had a trading volume of 931,771 shares, compared to its average volume of 845,029. SS&C Technologies has a one year low of $46.61 and a one year high of $75.10. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average is $70.76 and its 200-day moving average is $65.31. The company has a market cap of $18.34 billion, a price-to-earnings ratio of 29.78 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data 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. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. On average, sell-side analysts predict that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is 39.84%.

SS&C Technologies Company 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.