Oppenheimer Asset Management Inc. Cuts Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Oppenheimer Asset Management Inc. decreased its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,232 shares of the technology company’s stock after selling 459 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SS&C Technologies were worth $2,540,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in SS&C Technologies by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after purchasing an additional 196 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of SS&C Technologies by 2.9% in the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock valued at $524,000 after acquiring an additional 198 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after acquiring an additional 203 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in SS&C Technologies by 43.3% during the second 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 period. Finally, Wedge Capital Management L L P NC boosted its position in SS&C Technologies by 0.4% in the third quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after purchasing an additional 206 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SSNC. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target 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. Finally, Raymond James upped their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Down 1.1 %

Shares of SSNC stock opened at $73.40 on Friday. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The company’s fifty day simple moving average is $74.03 and its two-hundred day simple moving average is $68.95. SS&C Technologies Holdings, Inc. has a 1 year low of $54.44 and a 1 year high of $77.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were 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 dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

SS&C Technologies declared that its board has authorized a stock buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at SS&C Technologies

In related news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This trade represents a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,190 shares of company stock valued at $41,386,285. 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.