Raymond James Financial Services Advisors Inc. Increases Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Raymond James Financial Services Advisors Inc. lifted its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,424 shares of the technology company’s stock after purchasing an additional 880 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SS&C Technologies were worth $813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of SS&C Technologies by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,698,336 shares of the technology company’s stock worth $1,451,185,000 after purchasing an additional 147,148 shares during the period. Vanguard Group Inc. lifted its stake in shares of SS&C Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,029,098 shares of the technology company’s stock worth $1,502,583,000 after acquiring an additional 266,741 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of SS&C Technologies by 10.7% during the 1st quarter. Pzena Investment Management LLC now owns 13,982,655 shares of the technology company’s stock worth $789,601,000 after acquiring an additional 1,346,697 shares during the last quarter. State Street Corp lifted its stake in shares of SS&C Technologies by 0.4% during the 3rd quarter. State Street Corp now owns 5,154,466 shares of the technology company’s stock worth $246,126,000 after acquiring an additional 18,284 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its stake in shares of SS&C Technologies by 11.9% during the 1st quarter. Cantillon Capital Management LLC now owns 4,813,860 shares of the technology company’s stock worth $271,839,000 after acquiring an additional 513,068 shares during the last quarter. Hedge funds and other institutional investors own 82.17% of the company’s stock.

Insider Transactions at SS&C Technologies

In other news, Director Normand A. Boulanger sold 60,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $55.06, for a total value of $3,303,600.00. Following the completion of the transaction, the director now directly owns 280,000 shares of the company’s stock, valued at approximately $15,416,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Rahul Kanwar sold 140,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the transaction, the chief operating officer now directly owns 50,000 shares in the company, valued at approximately $2,838,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Normand A. Boulanger sold 60,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $55.06, for a total value of $3,303,600.00. Following the transaction, the director now owns 280,000 shares in the company, valued at $15,416,800. The disclosure for this sale can be found here. In the last three months, insiders sold 220,000 shares of company stock valued at $12,353,800. Corporate insiders own 14.60% of the company’s stock.

SS&C Technologies Trading Down 1.5 %

SSNC opened at $48.71 on Monday. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 20.13 and a beta of 1.41. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $64.52. The stock has a fifty day moving average price of $53.60 and a 200-day moving average price of $56.25.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.05). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. SS&C Technologies had a return on equity of 16.80% and a net margin of 11.42%. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.2 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, August 31st. SS&C Technologies’s payout ratio is presently 39.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Credit Suisse Group raised their price target on SS&C Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Raymond James decreased their price target on SS&C Technologies from $74.00 to $71.00 in a research note on Friday, July 28th. TheStreet lowered SS&C Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, September 13th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Finally, DA Davidson decreased their target price on SS&C Technologies from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $65.63.

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.