Marks Group Wealth Management Inc Reduces Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Marks Group Wealth Management Inc lowered its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,464 shares of the technology company’s stock after selling 5,255 shares during the period. Marks Group Wealth Management Inc’s holdings in SS&C Technologies were worth $8,494,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SS&C Technologies during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. boosted its holdings in shares of SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc raised its stake in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in SS&C Technologies in the second quarter valued at $47,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SSNC. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. DA Davidson restated 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 boosted their price objective on 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. 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 research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies has an average rating of “Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Performance

Shares of SSNC opened at $71.90 on Wednesday. The stock has a market capitalization of $17.81 billion, a P/E ratio of 25.77 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. SS&C Technologies Holdings, Inc. has a 1 year low of $51.72 and a 1 year high of $77.02. The company’s fifty day moving average is $73.96 and its two-hundred day moving average is $68.27.

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

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. SS&C Technologies’s payout ratio is 35.84%.

SS&C Technologies declared that its board has initiated a stock repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 over the last three months. 15.40% of the stock is currently owned by corporate 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.