SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 30.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,275 shares of the technology company’s stock after purchasing an additional 17,258 shares during the quarter. Van ECK Associates Corp’s holdings in SS&C Technologies were worth $4,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SSNC. Bank of Nova Scotia increased its stake in SS&C Technologies by 17.9% in the third quarter. Bank of Nova Scotia now owns 5,325 shares of the technology company’s stock valued at $280,000 after purchasing an additional 810 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in SS&C Technologies during the third quarter worth about $226,000. Royal London Asset Management Ltd. increased its stake in SS&C Technologies by 5.2% during the third quarter. Royal London Asset Management Ltd. now owns 70,462 shares of the technology company’s stock worth $3,702,000 after acquiring an additional 3,512 shares during the last quarter. Sixth Street Partners Management Company L.P. acquired a new stake in SS&C Technologies during the third quarter worth about $11,296,000. Finally, SkyView Investment Advisors LLC increased its stake in SS&C Technologies by 4.0% during the third quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company’s stock worth $261,000 after acquiring an additional 192 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SSNC has been the subject of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $78.00 target price on shares of SS&C Technologies in a research report on Tuesday, April 16th. Needham & Company LLC upped their target price on SS&C Technologies from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group upped their target price on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 7,500 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total transaction of $453,450.00. Following the transaction, the director now directly owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 32,500 shares of company stock valued at $2,027,750. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Price Performance

NASDAQ SSNC traded down $0.53 on Friday, reaching $62.23. 269,096 shares of the stock traded hands, compared to its average volume of 949,007. The firm’s fifty day simple moving average is $62.22 and its 200 day simple moving average is $61.99. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 25.00 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. As a group, research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.54%. SS&C Technologies’s dividend payout ratio is 38.25%.

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.