Quest Partners LLC Buys 36,018 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Quest Partners LLC lifted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 2,147.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 37,695 shares of the technology company’s stock after acquiring an additional 36,018 shares during the period. Quest Partners LLC’s holdings in SS&C Technologies were worth $2,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in SS&C Technologies during the second quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies in the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. boosted its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc grew its position in SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of SS&C Technologies during the second quarter worth approximately $47,000. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 45.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 561,190 shares of company stock worth $41,386,285. Corporate insiders own 15.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday. 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 report on Thursday, September 19th. Raymond James increased their target price on 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 reaffirmed 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, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Trading Down 1.1 %

NASDAQ:SSNC opened at $73.40 on Monday. SS&C Technologies Holdings, Inc. has a 12 month low of $54.44 and a 12 month high of $77.02. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $74.03 and a 200-day moving average price of $69.01. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating 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 business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.04 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

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

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.36%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

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.