New South Capital Management Inc. Trims Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

New South Capital Management Inc. decreased its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 710,259 shares of the technology company’s stock after selling 11,553 shares during the quarter. SS&C Technologies comprises 2.2% of New South Capital Management Inc.’s holdings, making the stock its 19th largest holding. New South Capital Management Inc.’s holdings in SS&C Technologies were worth $52,708,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. raised its position in SS&C Technologies by 0.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after purchasing an additional 53,080 shares during the period. Burgundy Asset Management Ltd. lifted its stake 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 worth $309,739,000 after acquiring an additional 201,632 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 valued at $248,485,000 after acquiring an additional 25,183 shares in the last quarter. Millennium Management LLC increased 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 purchasing an additional 1,120,961 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of SS&C Technologies by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock valued at $168,995,000 after purchasing an additional 349,911 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SSNC. 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. Royal Bank of Canada increased their price target 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. 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 issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $77.75.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock traded down $0.23 on Tuesday, hitting $74.61. The stock had a trading volume of 12,810 shares, compared to its average volume of 1,064,275. The company’s 50 day moving average price is $73.95 and its 200 day moving average price is $68.65. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 26.82 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies Holdings, Inc. has a 52-week low of $52.37 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, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. SS&C Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.34%. SS&C Technologies’s dividend payout ratio is presently 35.84%.

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

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 561,190 shares of company stock valued at $41,386,285. Corporate insiders own 15.40% of the company’s stock.

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.