Kornitzer Capital Management Inc. KS Purchases 8,653 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kornitzer Capital Management Inc. KS lifted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,642 shares of the technology company’s stock after buying an additional 8,653 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in SS&C Technologies were worth $3,863,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. TD Asset Management Inc grew its holdings in SS&C Technologies by 4.6% during the 2nd quarter. TD Asset Management Inc now owns 57,037 shares of the technology company’s stock worth $3,575,000 after acquiring an additional 2,504 shares during the period. Legacy Capital Wealth Partners LLC bought a new stake in SS&C Technologies in the second quarter worth approximately $401,000. Rhumbline Advisers increased its holdings in SS&C Technologies by 1.6% in the second quarter. Rhumbline Advisers now owns 286,114 shares of the technology company’s stock worth $17,931,000 after purchasing an additional 4,475 shares in the last quarter. Carret Asset Management LLC lifted its stake in SS&C Technologies by 4.2% in the second quarter. Carret Asset Management LLC now owns 7,370 shares of the technology company’s stock valued at $462,000 after buying an additional 300 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of SS&C Technologies by 16.1% during the 2nd quarter. CIBC Asset Management Inc now owns 8,308 shares of the technology company’s stock worth $521,000 after buying an additional 1,153 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

SSNC has been the subject of several research analyst reports. DA Davidson lifted their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC increased their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average price target of $70.75.

Insider Buying and Selling at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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 owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the business’s 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 transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 468,190 shares of company stock worth $34,031,675. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Down 1.5 %

Shares of NASDAQ SSNC opened at $72.97 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.10. The stock has a market capitalization of $17.91 billion, a P/E ratio of 29.07 and a beta of 1.38. The company has a 50-day moving average price of $69.47 and a 200-day moving average price of $64.92.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.25 dividend. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is presently 38.25%.

SS&C Technologies Company 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.