Zurcher Kantonalbank Zurich Cantonalbank Has $3.39 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 33.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 45,609 shares of the technology company’s stock after selling 22,788 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SS&C Technologies were worth $3,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSNC. Millennium Management LLC increased its stake in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after buying an additional 1,120,961 shares during the period. AQR Capital Management LLC grew its stake in shares of SS&C Technologies by 82.1% during the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after purchasing an additional 571,334 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 349,911 shares during the period. Victory Capital Management Inc. grew its stake in shares of SS&C Technologies by 29.7% during the second quarter. Victory Capital Management Inc. now owns 1,269,116 shares of the technology company’s stock worth $79,536,000 after purchasing an additional 290,496 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of SS&C Technologies by 44.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 897,198 shares of the technology company’s stock worth $66,581,000 after purchasing an additional 275,186 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SSNC shares. Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Finally, Raymond James lifted their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Two 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $76.70 on Wednesday. The firm has a market cap of $19.00 billion, a price-to-earnings ratio of 27.49 and a beta of 1.38. The stock’s 50-day moving average is $74.33 and its 200-day moving average is $70.10. SS&C Technologies Holdings, Inc. has a one year low of $56.10 and a one year high of $77.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

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

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.30%. SS&C Technologies’s payout ratio is presently 35.84%.

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 sale, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the sale, the senior vice president now owns 6,412 shares in the company, valued at $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,000 shares of company stock worth $16,560,660. Corporate 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.