SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. lessened its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 27.7% in the third quarter, Holdings Channel.com reports. The fund owned 102,000 shares of the technology company’s stock after selling 39,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in SS&C Technologies were worth $7,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Jackson Square Capital LLC purchased a new stake in shares of SS&C Technologies during the third quarter valued at $1,612,000. Concurrent Investment Advisors LLC purchased a new stake in SS&C Technologies during the third quarter valued at about $221,000. Old West Investment Management LLC boosted its holdings in shares of SS&C Technologies by 19.1% in the third quarter. Old West Investment Management LLC now owns 111,784 shares of the technology company’s stock worth $8,295,000 after buying an additional 17,893 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of SS&C Technologies during the third quarter valued at approximately $1,818,000. Finally, QRG Capital Management Inc. lifted its position in shares of SS&C Technologies by 533.3% in the 3rd quarter. QRG Capital Management Inc. now owns 50,946 shares of the technology company’s stock valued at $3,781,000 after acquiring an additional 42,901 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s 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 transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock valued at $44,821,055 in the last three months. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Performance

SSNC stock traded up $0.18 during midday trading on Thursday, hitting $74.35. 42,749 shares of the company traded hands, compared to its average volume of 1,057,412. The business has a 50 day simple moving average of $73.96 and a 200-day simple moving average of $68.32. 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 Holdings, Inc. has a twelve month low of $51.92 and a twelve month high of $77.02. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 26.58 and a beta of 1.39.

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

SS&C Technologies announced that its board has authorized a stock repurchase 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 purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

Analyst Ratings Changes

SSNC has been the topic of several recent analyst reports. Raymond James boosted 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 research note on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, DA Davidson reissued a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.