Dai ichi Life Insurance Company Ltd Makes New $340,000 Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Dai ichi Life Insurance Company Ltd purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,587 shares of the technology company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SSNC. California State Teachers Retirement System raised its stake in shares of SS&C Technologies by 5.3% during the 1st quarter. California State Teachers Retirement System now owns 433,572 shares of the technology company’s stock worth $27,909,000 after buying an additional 21,641 shares during the period. Tidal Investments LLC raised its position in SS&C Technologies by 28.5% during the first quarter. Tidal Investments LLC now owns 22,975 shares of the technology company’s stock worth $1,479,000 after acquiring an additional 5,100 shares during the period. Comerica Bank lifted its holdings in SS&C Technologies by 24.0% during the first quarter. Comerica Bank now owns 50,531 shares of the technology company’s stock valued at $3,253,000 after purchasing an additional 9,764 shares in the last quarter. PGGM Investments grew its position in shares of SS&C Technologies by 3.1% in the first quarter. PGGM Investments now owns 44,694 shares of the technology company’s stock valued at $2,877,000 after purchasing an additional 1,336 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of SS&C Technologies during the first quarter worth about $343,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 0.3 %

Shares of NASDAQ SSNC opened at $77.36 on Friday. SS&C Technologies Holdings, Inc. has a 52-week low of $55.57 and a 52-week high of $77.53. The business’s 50 day moving average is $74.20 and its two-hundred day moving average is $69.67. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 27.73 and a beta of 1.39. 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 (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion for 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. Research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

Insider Buying and Selling

In other news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,000 shares of company stock valued at $16,560,660 in the last ninety days. Company insiders own 15.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies 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 note on Friday, November 15th. Finally, Raymond James boosted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

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.