Swedbank AB Increases Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Swedbank AB grew its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,491,961 shares of the technology company’s stock after purchasing an additional 16,971 shares during the period. Swedbank AB owned approximately 0.60% of SS&C Technologies worth $110,718,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SSNC. Diamond Hill Capital Management Inc. increased its stake in SS&C Technologies by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after acquiring an additional 53,080 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in SS&C Technologies by 4.3% during 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 buying an additional 201,632 shares during the period. Price T Rowe Associates Inc. MD lifted its position in SS&C Technologies by 0.7% in the first 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 during the last quarter. Millennium Management LLC boosted its stake in SS&C Technologies by 49.2% during the second 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in SS&C Technologies by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after buying an additional 349,911 shares during the period. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. This represents a 28.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by company insiders.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $76.12 on Monday. The firm has a 50 day moving average of $74.11 and a 200 day moving average of $69.42. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 27.28 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52 week low of $55.33 and a 52 week high of $77.02.

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

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd. SS&C Technologies’s payout ratio is currently 35.84%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SSNC. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada upped their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Raymond James increased their target price on 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. Finally, DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.75.

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.