Covestor Ltd Has $168,000 Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Covestor Ltd grew its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,262 shares of the technology company’s stock after purchasing an additional 212 shares during the quarter. Covestor Ltd’s holdings in SS&C Technologies were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SSNC. Diamond Hill Capital Management Inc. raised its holdings in SS&C Technologies by 0.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after acquiring an additional 53,080 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in SS&C Technologies by 4.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of SS&C Technologies by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock worth $248,485,000 after purchasing an additional 25,183 shares in the last quarter. Millennium Management LLC raised its position in shares of SS&C Technologies by 49.2% in the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after buying an additional 1,120,961 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of SS&C Technologies by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock valued at $168,995,000 after buying an additional 349,911 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com raised 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 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James raised their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $77.75.

SS&C Technologies Trading Up 0.3 %

SSNC opened at $74.78 on Monday. The company has a market cap of $18.52 billion, a P/E ratio of 26.80 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $73.96 and its 200-day moving average is $68.55. SS&C Technologies Holdings, Inc. has a 1-year low of $51.92 and a 1-year high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last posted its 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. The business 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%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date 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%.

SS&C Technologies announced that its board has initiated a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at SS&C Technologies

In related 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 directly owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 over the last ninety days. 15.40% of the stock is owned by insiders.

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.