Prudent Man Advisors LLC Trims Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Prudent Man Advisors LLC decreased its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,433 shares of the technology company’s stock after selling 139 shares during the quarter. Prudent Man Advisors LLC’s holdings in SS&C Technologies were worth $626,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SSNC. Innealta Capital LLC purchased a new position in SS&C Technologies in the second quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. raised its holdings in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Versant Capital Management Inc grew its holdings in SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after purchasing an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of SS&C Technologies in the second quarter valued at approximately $47,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SSNC shares. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James raised their price target on shares of 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. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised their target price 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. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Insider Buying and Selling

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies 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 sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The trade was a 87.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,190 shares of company stock valued at $41,386,285. 15.40% of the stock is currently owned by insiders.

SS&C Technologies Stock Down 1.1 %

Shares of NASDAQ:SSNC opened at $73.40 on Monday. SS&C Technologies Holdings, Inc. has a 52-week low of $54.44 and a 52-week high of $77.02. The stock has a market cap of $18.18 billion, a P/E ratio of 26.31 and a beta of 1.39. The business has a fifty day moving average of $74.03 and a two-hundred day moving average of $69.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during 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%. SS&C Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, research analysts expect 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. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost 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 1.36%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

SS&C Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.