Atlanta Consulting Group Advisors LLC Purchases New Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Atlanta Consulting Group Advisors LLC acquired a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, HoldingsChannel reports. The fund acquired 3,078 shares of the technology company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SSNC. Empowered Funds LLC acquired a new position in SS&C Technologies during the 1st quarter valued at about $212,000. Sei Investments Co. boosted its position 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 worth $3,543,000 after buying an additional 682 shares during the period. Blair William & Co. IL boosted its position in SS&C Technologies by 27.6% during the 1st quarter. Blair William & Co. IL now owns 31,625 shares of the technology company’s stock worth $2,036,000 after acquiring an additional 6,844 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in SS&C Technologies by 1.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 269,447 shares of the technology company’s stock valued at $17,213,000 after purchasing an additional 3,607 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of SS&C Technologies by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,200 shares of the technology company’s stock valued at $206,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Trading Down 1.1 %

SSNC stock opened at $73.40 on Monday. SS&C Technologies Holdings, Inc. has a 52 week low of $54.44 and a 52 week high of $77.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The company’s 50-day simple moving average is $74.03 and its 200 day simple moving average is $69.01. The company has a market capitalization of $18.18 billion, a PE ratio of 26.31 and a beta of 1.39.

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

SS&C Technologies declared that its board has approved a share repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.36%. SS&C Technologies’s payout ratio is currently 35.84%.

Insider Transactions at SS&C Technologies

In other news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares in the company, valued at $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. In the last three months, insiders have sold 561,190 shares of company stock valued at $41,386,285. 15.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SSNC. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James upped their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.