Raymond James Trust N.A. Buys 538 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James Trust N.A. lifted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,683 shares of the technology company’s stock after acquiring an additional 538 shares during the quarter. Raymond James Trust N.A.’s holdings in SS&C Technologies were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SSNC. Innealta Capital LLC purchased a new stake in SS&C Technologies during the 2nd quarter valued at $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of SS&C Technologies in the second quarter worth $35,000. Benjamin Edwards Inc. increased its position in SS&C Technologies by 43.3% during the second 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 last quarter. Versant Capital Management Inc lifted its holdings in SS&C Technologies by 6,300.0% in the second 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. Finally, 1620 Investment Advisors Inc. purchased a new position in SS&C Technologies in the second quarter worth about $47,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SS&C Technologies

In other news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now owns 22,576 shares in the company, valued at approximately $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. Insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SSNC shares. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. DA Davidson reiterated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Raymond James upped their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $76.12 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a twelve month low of $55.33 and a twelve month high of $77.02. The business has a 50-day moving average price of $74.11 and a 200-day moving average price of $69.33. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 27.28 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, December 2nd. SS&C Technologies’s payout ratio is currently 35.84%.

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.