New South Capital Management Inc. Increases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

New South Capital Management Inc. boosted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 41.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721,812 shares of the technology company’s stock after purchasing an additional 212,685 shares during the quarter. SS&C Technologies comprises 2.0% of New South Capital Management Inc.’s holdings, making the stock its 19th largest holding. New South Capital Management Inc. owned 0.29% of SS&C Technologies worth $45,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Savant Capital LLC lifted its holdings in shares of SS&C Technologies by 309.1% during the 2nd quarter. Savant Capital LLC now owns 30,774 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 23,251 shares during the last quarter. North Star Asset Management Inc. increased its position in SS&C Technologies by 0.7% during the 2nd quarter. North Star Asset Management Inc. now owns 591,386 shares of the technology company’s stock valued at $37,062,000 after buying an additional 3,991 shares in the last quarter. Victory Capital Management Inc. raised its stake in SS&C Technologies by 29.7% in the second quarter. Victory Capital Management Inc. now owns 1,269,116 shares of the technology company’s stock valued at $79,536,000 after buying an additional 290,496 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in SS&C Technologies by 16.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 61,642 shares of the technology company’s stock worth $3,863,000 after acquiring an additional 8,653 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of SS&C Technologies by 4.6% during the second quarter. TD Asset Management Inc now owns 57,037 shares of the technology company’s stock worth $3,575,000 after acquiring an additional 2,504 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors.

Insider Activity

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Rahul Kanwar sold 412,190 shares of the business’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 completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 7,500 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $60.46, for a total value of $453,450.00. Following the transaction, the director now owns 41,576 shares in the company, valued at approximately $2,513,684.96. The disclosure for this sale can be found here. Insiders sold a total of 468,190 shares of company stock valued at $34,031,675 in the last three months. 15.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SSNC. DA Davidson increased their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.75.

SS&C Technologies Trading Down 1.2 %

Shares of SS&C Technologies stock opened at $72.10 on Friday. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $17.83 billion, a PE ratio of 28.73 and a beta of 1.38. The firm has a fifty day moving average price of $69.66 and a 200 day moving average price of $64.99.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

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.