Geneva Capital Management LLC Trims Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Geneva Capital Management LLC lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,948 shares of the technology company’s stock after selling 2,548 shares during the period. Geneva Capital Management LLC’s holdings in SS&C Technologies were worth $7,046,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. boosted its position in shares of SS&C Technologies by 0.7% during 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 last quarter. Burgundy Asset Management Ltd. lifted its position in SS&C Technologies by 4.3% during the second 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 last quarter. Price T Rowe Associates Inc. MD grew its stake in SS&C Technologies by 0.7% in 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 buying an additional 25,183 shares in the last quarter. Millennium Management LLC increased its holdings in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after buying an additional 1,120,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of SS&C Technologies by 14.9% during the 2nd 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 in the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Down 0.7 %

Shares of NASDAQ:SSNC opened at $74.30 on Wednesday. SS&C Technologies Holdings, Inc. has a 1 year low of $52.37 and a 1 year 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 stock’s 50-day moving average is $73.96 and its 200 day moving average is $68.74. The company has a market cap of $18.40 billion, a PE ratio of 26.63 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 earnings per share. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on SSNC. DA Davidson restated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James upped their price objective on shares of 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. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $77.75.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction 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 sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 333,576 shares in the company, valued at $25,144,958.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,190 shares of company stock valued at $41,386,285 over the last three months. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Profile

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.