Oppenheimer Asset Management Inc. Has $2.54 Million Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Oppenheimer Asset Management Inc. decreased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,232 shares of the technology company’s stock after selling 459 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SS&C Technologies were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSNC. Diamond Hill Capital Management Inc. increased its position in SS&C Technologies by 0.7% in the 2nd 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. grew its stake in shares of SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in SS&C Technologies by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after purchasing an additional 25,183 shares during the period. Millennium Management LLC raised its position in SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after purchasing an additional 1,120,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in SS&C Technologies by 14.9% during the 2nd 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. Institutional investors own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies 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 completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. This trade represents a 28.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the company’s 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 completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,190 shares of company stock worth $41,386,285 over the last quarter. 15.40% of the stock is currently owned by corporate insiders.

SS&C Technologies Stock Down 1.1 %

SS&C Technologies stock opened at $73.40 on Friday. The company has a market capitalization of $18.18 billion, a PE ratio of 26.31 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 12-month low of $54.44 and a 12-month high of $77.02. The firm’s fifty day moving average is $74.03 and its 200 day moving average is $68.95. 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 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

SS&C Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.