SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Down 22.4% in August

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,250,000 shares, a decline of 22.4% from the August 15th total of 1,610,000 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 989,500 shares, the short-interest ratio is currently 1.3 days.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the sale, the director now directly owns 41,576 shares in the company, valued at approximately $2,513,684.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 468,190 shares of company stock valued at $34,031,675. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of SS&C Technologies

Several institutional investors have recently made changes to their positions in SSNC. Quent Capital LLC increased its holdings in SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $26,000. ST Germain D J Co. Inc. purchased a new stake in shares of SS&C Technologies in the first quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in SS&C Technologies during the 2nd quarter valued at approximately $35,000. Finally, Benjamin Edwards Inc. increased its stake in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several research reports. DA Davidson raised their target price on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Needham & Company LLC boosted their target price on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $70.75.

SS&C Technologies Stock Performance

SS&C Technologies stock traded up $1.04 during midday trading on Friday, hitting $74.74. The stock had a trading volume of 931,771 shares, compared to its average volume of 845,029. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $75.10. The company has a market capitalization of $18.34 billion, a PE ratio of 29.78 and a beta of 1.38. The firm’s fifty day moving average is $70.76 and its two-hundred day moving average is $65.31. 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 (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, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. On average, research analysts forecast that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. SS&C Technologies’s payout ratio is presently 39.84%.

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.