SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is Oldfield Partners LLP’s 2nd Largest Position

Oldfield Partners LLP cut its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 22.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 849,800 shares of the technology company’s stock after selling 246,600 shares during the period. SS&C Technologies makes up about 13.3% of Oldfield Partners LLP’s investment portfolio, making the stock its 2nd largest holding. Oldfield Partners LLP’s holdings in SS&C Technologies were worth $63,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in SS&C Technologies by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after purchasing an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after purchasing an additional 100,197 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SS&C Technologies during the 2nd quarter valued at $1,661,000. Finally, Burgundy Asset Management Ltd. boosted its stake in SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $76.13 on Tuesday. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $77.02. The stock’s fifty day moving average is $74.20 and its 200 day moving average is $67.46. The stock has a market cap of $18.68 billion, a P/E ratio of 27.68 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

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

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.31%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction dated Friday, September 20th. The stock was 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 owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SSNC. Needham & Company LLC increased their price target on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, DA Davidson reissued a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Three 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

SS&C Technologies 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.