Norris Perne & French LLP MI Has $20.30 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Norris Perne & French LLP MI reduced its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 273,516 shares of the technology company’s stock after selling 7,831 shares during the quarter. Norris Perne & French LLP MI’s holdings in SS&C Technologies were worth $20,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of SS&C Technologies by 34.6% in the first quarter. Principal Financial Group Inc. now owns 18,422 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 4,732 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings 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 valued at $543,000 after acquiring an additional 597 shares during the period. Van ECK Associates Corp lifted its position in SS&C Technologies by 30.8% during the first quarter. Van ECK Associates Corp now owns 73,275 shares of the technology company’s stock worth $4,717,000 after acquiring an additional 17,258 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SS&C Technologies by 11.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,099 shares of the technology company’s stock worth $30,067,000 after acquiring an additional 47,312 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of SS&C Technologies by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 46,672 shares of the technology company’s stock valued at $3,004,000 after purchasing an additional 683 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $69.93 on Friday. SS&C Technologies Holdings, Inc. has a twelve month low of $48.82 and a twelve month high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock’s 50-day simple moving average is $74.21 and its 200 day simple moving average is $67.93. The firm has a market capitalization of $17.16 billion, a PE ratio of 25.06 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly 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 the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.62%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. On average, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

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

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued 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 annualized dividend and a dividend yield of 1.43%. SS&C Technologies’s dividend payout ratio is 35.84%.

Insider Activity

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the subject of several research reports. Raymond James lifted their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada increased their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

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.