New South Capital Management Inc. Sells 11,553 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

New South Capital Management Inc. decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 710,259 shares of the technology company’s stock after selling 11,553 shares during the quarter. SS&C Technologies comprises about 2.2% of New South Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. New South Capital Management Inc. owned about 0.29% of SS&C Technologies worth $52,708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new position in shares of SS&C Technologies in the 1st quarter worth approximately $212,000. Forsta AP Fonden raised its position in SS&C Technologies by 31.1% in the 1st quarter. Forsta AP Fonden now owns 42,600 shares of the technology company’s stock worth $2,742,000 after purchasing an additional 10,100 shares during the period. Sei Investments Co. grew its stake in shares of SS&C Technologies by 1.3% during the first quarter. Sei Investments Co. now owns 55,035 shares of the technology company’s stock valued at $3,543,000 after buying an additional 682 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of SS&C Technologies in the first quarter worth approximately $109,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of SS&C Technologies by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 345,425 shares of the technology company’s stock worth $22,235,000 after acquiring an additional 1,273 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Down 0.3 %

SS&C Technologies stock traded down $0.23 during midday trading on Tuesday, reaching $74.61. The company’s stock had a trading volume of 12,810 shares, compared to its average volume of 1,064,275. SS&C Technologies Holdings, Inc. has a 52-week low of $52.37 and a 52-week high of $77.02. The stock has a market capitalization of $18.48 billion, a P/E ratio of 26.82 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s 50-day simple moving average is $73.95 and its 200-day simple moving average is $68.65.

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 the consensus estimate of $1.26 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, sell-side analysts expect 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. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. 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 boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is currently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on SSNC. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James boosted their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $77.75.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on 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 sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 561,190 shares of company stock worth $41,386,285. 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.