Invenomic Capital Management LP Decreases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Invenomic Capital Management LP lowered its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 429,493 shares of the technology company’s stock after selling 229,613 shares during the quarter. SS&C Technologies accounts for 1.8% of Invenomic Capital Management LP’s investment portfolio, making the stock its 11th largest holding. Invenomic Capital Management LP owned 0.17% of SS&C Technologies worth $31,873,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the second quarter valued at about $35,000. Benjamin Edwards Inc. increased its holdings in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares during the period. 1620 Investment Advisors Inc. acquired a new position in SS&C Technologies in the second quarter worth $47,000. Finally, Capital Performance Advisors LLP acquired a new stake in SS&C Technologies during the 3rd quarter worth $68,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insiders Place Their Bets

In other SS&C Technologies news, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 218,000 shares of company stock worth $16,560,660 over the last three months. 15.40% of the stock is owned by insiders.

SS&C Technologies Trading Down 0.1 %

Shares of SSNC stock opened at $76.98 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 12-month low of $56.10 and a 12-month high of $77.69. The firm’s 50 day moving average is $74.29 and its 200 day moving average is $70.01. The stock has a market capitalization of $19.07 billion, a P/E ratio of 27.59 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. Research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

Analysts Set New Price Targets

SSNC has been the topic of a number of research reports. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James lifted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Royal Bank of Canada upped 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. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.75.

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.