Valley Wealth Managers Inc. Has $18.28 Million Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Valley Wealth Managers Inc. cut its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 246,360 shares of the technology company’s stock after selling 7,010 shares during the quarter. Valley Wealth Managers Inc. owned 0.10% of SS&C Technologies worth $18,282,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in SS&C Technologies in the 1st quarter valued at $212,000. Sei Investments Co. lifted its holdings in SS&C Technologies by 1.3% during the 1st quarter. Sei Investments Co. now owns 55,035 shares of the technology company’s stock worth $3,543,000 after purchasing an additional 682 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings 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 worth $16,341,000 after purchasing an additional 11,497 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of SS&C Technologies by 18.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 113,227 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 17,545 shares in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in shares of SS&C Technologies during the 1st quarter valued at about $202,000. 96.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Royal Bank of Canada lifted 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. Raymond James lifted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.75.

Insider Transactions at SS&C Technologies

In other news, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This represents a 28.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 87.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,190 shares of company stock valued at $41,386,285. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Down 0.7 %

NASDAQ SSNC traded down $0.49 during trading hours on Friday, hitting $73.74. 24,587 shares of the company were exchanged, compared to its average volume of 1,074,549. The stock has a market cap of $18.26 billion, a PE ratio of 26.61 and a beta of 1.39. The stock has a 50-day moving average price of $74.00 and a 200 day moving average price of $68.82. SS&C Technologies Holdings, Inc. has a 52 week low of $54.44 and a 52 week high of $77.02. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share. 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase 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 1.36%. SS&C Technologies’s dividend payout ratio is presently 35.84%.

SS&C Technologies declared that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.