Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,748 shares of the technology company’s stock after purchasing an additional 733 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in SS&C Technologies were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SSNC. Janney Montgomery Scott LLC boosted its position in SS&C Technologies by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after acquiring an additional 196 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of SS&C Technologies by 2.9% during the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after purchasing an additional 198 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after purchasing an additional 203 shares during the period. Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in SS&C Technologies by 0.4% during the third quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after buying an additional 206 shares during the period. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $73.40 on Friday. SS&C Technologies Holdings, Inc. has a 12-month low of $54.44 and a 12-month high of $77.02. 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 company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The firm’s fifty day moving average price is $74.03 and its 200 day moving average price is $68.95.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly 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 return on equity of 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication 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. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend 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 35.84%.

Insider Activity 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 transaction of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. The trade was a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,190 shares of company stock valued at $41,386,285 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued 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 research report on Friday, October 25th. Finally, Royal Bank of Canada raised 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. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.