Great Lakes Advisors LLC Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Great Lakes Advisors LLC lessened its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,089 shares of the technology company’s stock after selling 3,201 shares during the period. Great Lakes Advisors LLC owned approximately 0.20% of SS&C Technologies worth $30,526,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Savant Capital LLC increased its holdings in SS&C Technologies by 309.1% in the 2nd quarter. Savant Capital LLC now owns 30,774 shares of the technology company’s stock worth $1,929,000 after acquiring an additional 23,251 shares in the last quarter. North Star Asset Management Inc. lifted its position in shares of SS&C Technologies by 0.7% during the second quarter. North Star Asset Management Inc. now owns 591,386 shares of the technology company’s stock worth $37,062,000 after purchasing an additional 3,991 shares during the last quarter. Victory Capital Management Inc. increased its holdings in SS&C Technologies by 29.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,269,116 shares of the technology company’s stock worth $79,536,000 after purchasing an additional 290,496 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in SS&C Technologies by 16.3% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 61,642 shares of the technology company’s stock worth $3,863,000 after acquiring an additional 8,653 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of SS&C Technologies by 4.6% in the 2nd quarter. TD Asset Management Inc now owns 57,037 shares of the technology company’s stock valued at $3,575,000 after acquiring an additional 2,504 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SSNC. DA Davidson boosted their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 29th. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.75.

SS&C Technologies Stock Down 1.2 %

NASDAQ:SSNC traded down $0.87 during mid-day trading on Friday, hitting $72.10. The company had a trading volume of 1,057,855 shares, compared to its average volume of 822,103. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.10. The business has a fifty day simple moving average of $69.66 and a 200-day simple moving average of $64.98. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 28.73 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. SS&C Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. SS&C Technologies’s payout ratio is presently 39.84%.

Insider Buying and Selling at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Insiders have sold a total of 468,190 shares of company stock worth $34,031,675 over the last three months. Corporate insiders own 15.40% of the company’s stock.

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.