Stephens Inc. AR Sells 7,730 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Stephens Inc. AR lessened its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,232 shares of the technology company’s stock after selling 7,730 shares during the period. Stephens Inc. AR’s holdings in SS&C Technologies were worth $3,728,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SSNC. Principal Financial Group Inc. grew its position in SS&C Technologies by 34.6% in the 1st quarter. Principal Financial Group Inc. now owns 18,422 shares of the technology company’s stock worth $1,186,000 after purchasing an additional 4,732 shares during the period. Commonwealth Equity Services LLC grew its position in SS&C Technologies by 7.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company’s stock worth $543,000 after purchasing an additional 597 shares during the period. Janney Montgomery Scott LLC grew its position in SS&C Technologies by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 46,672 shares of the technology company’s stock worth $3,004,000 after purchasing an additional 683 shares during the period. Quent Capital LLC grew its position in SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after purchasing an additional 172 shares during the period. Finally, Graypoint LLC grew its position in SS&C Technologies by 2.6% in the 1st quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock worth $530,000 after purchasing an additional 207 shares during the period. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 0.7 %

SSNC opened at $70.40 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.16 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a fifty-two week low of $49.51 and a fifty-two week high of $77.02. The firm’s fifty day moving average is $74.07 and its 200 day moving average is $68.01. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 25.23 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.42%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows 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 management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James boosted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada boosted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction 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 in the company, valued at $1,715,098.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’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 sale, the director now owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 in the last 90 days. 15.40% of the stock is currently 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.