Catalyst Capital Advisors LLC Acquires Shares of 24,500 SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Catalyst Capital Advisors LLC acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter, HoldingsChannel.com reports. The firm acquired 24,500 shares of the technology company’s stock, valued at approximately $1,818,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Swedbank AB bought a new position in shares of SS&C Technologies during the first quarter valued at $94,939,000. Millennium Management LLC lifted its holdings in shares of SS&C Technologies by 49.2% during the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after acquiring an additional 1,120,961 shares during the period. AQR Capital Management LLC lifted its holdings in shares of SS&C Technologies by 82.1% during the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares during the period. Capital International Investors lifted its holdings in shares of SS&C Technologies by 111.1% during the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after acquiring an additional 564,017 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of SS&C Technologies by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock valued at $168,995,000 after buying an additional 349,911 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SSNC. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson restated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Raymond James raised their target price on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $77.75.

SS&C Technologies Trading Up 0.5 %

NASDAQ SSNC opened at $70.77 on Tuesday. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 25.37 and a beta of 1.39. The stock’s 50 day moving average price is $74.07 and its two-hundred day moving average price is $68.12. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52 week low of $51.72 and a 52 week high of $77.02.

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, topping 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 return on equity of 17.33% and a net margin of 12.26%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, analysts anticipate 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 given a dividend of $0.25 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. SS&C Technologies’s payout ratio is 35.84%.

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

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was 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 of the company’s stock, valued at approximately $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 609,690 shares of company stock valued at $44,821,055 in the last 90 days. 15.40% of the stock is currently owned by insiders.

SS&C Technologies Company 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.