Cantillon Capital Management LLC Has $334.48 Million Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Cantillon Capital Management LLC lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,507,186 shares of the technology company’s stock after selling 136,431 shares during the period. SS&C Technologies accounts for about 2.0% of Cantillon Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Cantillon Capital Management LLC’s holdings in SS&C Technologies were worth $334,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SSNC. Janney Montgomery Scott LLC boosted its position in shares of SS&C Technologies by 0.4% in the third quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock valued at $3,435,000 after acquiring an additional 196 shares during the period. Tectonic Advisors LLC raised its position in SS&C Technologies by 2.9% in the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after acquiring an additional 198 shares during the period. Summit Trail Advisors LLC boosted its position in SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock worth $446,000 after purchasing an additional 203 shares during the period. Benjamin Edwards Inc. increased its position in shares of 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 buying an additional 204 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in SS&C Technologies by 0.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

SSNC has been the subject of several recent research reports. Raymond James boosted their price target on shares of 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. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada boosted their target price on 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 equities 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

SSNC stock opened at $73.51 on Tuesday. SS&C Technologies Holdings, Inc. has a one year low of $54.75 and a one year high of $77.02. The firm has a market cap of $18.21 billion, a price-to-earnings ratio of 26.35 and a beta of 1.39. 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 firm has a 50-day simple moving average of $74.05 and a two-hundred day simple moving average of $69.09.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 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 business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $1.04 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

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

Insider Activity

In related news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction that occurred on 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 approximately $25,144,958.88. The trade was a 28.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated 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 directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 561,190 shares of company stock worth $41,386,285 in the last ninety days. Company insiders own 15.40% of the company’s stock.

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.