Jackson Square Capital LLC Makes New Investment in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Jackson Square Capital LLC bought a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,728 shares of the technology company’s stock, valued at approximately $1,612,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of SS&C Technologies during the 1st quarter valued at about $94,939,000. Millennium Management LLC boosted its position in shares of SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after acquiring an additional 1,120,961 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of SS&C Technologies by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares during the last quarter. Capital International Investors boosted its position in shares of SS&C Technologies by 111.1% during the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after acquiring an additional 564,017 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 acquiring an additional 349,911 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Stock Up 3.2 %

Shares of NASDAQ:SSNC opened at $74.17 on Thursday. 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 firm has a market capitalization of $18.37 billion, a PE ratio of 26.58 and a beta of 1.39. The firm’s 50-day moving average is $73.96 and its two-hundred day moving average is $68.32. 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 released its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. 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 annualized dividend and a dividend yield of 1.35%. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

SS&C Technologies declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the 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 transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Company 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.