AlphaCore Capital LLC Cuts Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

AlphaCore Capital LLC reduced its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,692 shares of the technology company’s stock after selling 525 shares during the quarter. AlphaCore Capital LLC’s holdings in SS&C Technologies were worth $274,000 as of its most recent SEC filing.

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

SS&C Technologies Trading Up 2.5 %

Shares of SS&C Technologies stock opened at $75.29 on Friday. The stock has a market cap of $18.65 billion, a PE ratio of 26.99 and a beta of 1.39. The firm has a fifty day moving average price of $74.05 and a 200 day moving average price of $69.20. SS&C Technologies Holdings, Inc. has a 1 year low of $55.20 and a 1 year high of $77.02. 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 released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion during 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 revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies declared that its board has authorized a share repurchase 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 typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction on Monday, September 16th. The shares were 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 trade represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

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.