Sumitomo Mitsui Trust Group Inc. Acquires 43,815 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Group Inc. increased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.1% during the third quarter, Holdings Channel reports. The firm owned 525,197 shares of the technology company’s stock after buying an additional 43,815 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SS&C Technologies were worth $38,975,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP raised its holdings in SS&C Technologies by 109.4% in the 3rd quarter. GSA Capital Partners LLP now owns 8,697 shares of the technology company’s stock valued at $645,000 after acquiring an additional 4,544 shares during the period. Entropy Technologies LP acquired a new position in shares of SS&C Technologies during the 3rd quarter worth approximately $2,146,000. Wolverine Asset Management LLC boosted its position in shares of SS&C Technologies by 198.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 9,590 shares of the technology company’s stock worth $712,000 after acquiring an additional 19,300 shares in the last quarter. Covestor Ltd boosted its position in shares of SS&C Technologies by 10.3% during the 3rd quarter. Covestor Ltd now owns 2,262 shares of the technology company’s stock worth $168,000 after acquiring an additional 212 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of SS&C Technologies by 1.5% during the 3rd quarter. Assetmark Inc. now owns 52,398 shares of the technology company’s stock worth $3,888,000 after acquiring an additional 780 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

Insider Activity

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated 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 directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The trade was a 87.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock worth $41,386,285 over the last three months. 15.40% of the stock is currently owned by insiders.

SS&C Technologies Trading Down 1.1 %

NASDAQ:SSNC opened at $73.40 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The firm has a fifty day simple moving average of $74.03 and a two-hundred day simple moving average of $68.90. SS&C Technologies Holdings, Inc. has a 12 month low of $54.44 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $1.04 earnings per share. Analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs 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. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SSNC shares. DA Davidson restated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. 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. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note 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 company an “outperform” rating in a research note on Thursday, September 19th. Finally, Raymond James lifted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Two 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 stock. According to data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and an average target price 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.