Cannon Global Investment Management LLC Makes New $386,000 Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cannon Global Investment Management LLC purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,200 shares of the technology company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSNC. Quent Capital LLC grew its position in SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after purchasing an additional 172 shares during the period. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. grew its position in shares of SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSNC. 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 report on Thursday, September 19th. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. 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 report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Price Performance

SSNC traded up $0.47 during trading on Friday, reaching $70.40. The company’s stock had a trading volume of 1,637,654 shares, compared to its average volume of 1,471,942. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $74.07 and a two-hundred day simple moving average of $68.07. SS&C Technologies Holdings, Inc. has a 1 year low of $49.51 and a 1 year high of $77.02. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 25.23 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits 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 leadership believes its shares are undervalued.

Insider Activity

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by company insiders.

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.