Entropy Technologies LP Purchases New Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Entropy Technologies LP acquired a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,924 shares of the technology company’s stock, valued at approximately $2,146,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of 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 2nd quarter valued at $35,000. Benjamin Edwards Inc. increased its stake in shares of SS&C Technologies by 43.3% in the 2nd 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 period. Versant Capital Management Inc raised its position in shares of SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of SS&C Technologies during the second quarter valued at $47,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SSNC shares. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, Raymond James lifted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies presently has an average rating of “Buy” and an average price target of $77.75.

SS&C Technologies Price Performance

SSNC opened at $74.30 on Wednesday. The company has a fifty day simple moving average of $73.96 and a 200 day simple moving average of $68.74. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $18.40 billion, a P/E ratio of 26.63 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 12 month low of $52.37 and a 12 month high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $1.04 earnings per share. SS&C Technologies’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

SS&C Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,190 shares of company stock worth $41,386,285 over the last ninety days. Company insiders own 15.40% of the company’s stock.

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.