American Century Companies Inc. Raises Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

American Century Companies Inc. lifted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,245 shares of the technology company’s stock after acquiring an additional 1,460 shares during the quarter. American Century Companies Inc.’s holdings in SS&C Technologies were worth $1,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SSNC. Quent Capital LLC grew its holdings in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after purchasing an additional 172 shares during the period. Innealta Capital LLC bought a new position in SS&C Technologies during the second quarter valued at $26,000. ST Germain D J Co. Inc. bought a new position in shares of SS&C Technologies in the first quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SS&C Technologies in the second quarter worth $35,000. Finally, Versant Capital Management Inc raised its position in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares in the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Up 0.4 %

Shares of NASDAQ:SSNC opened at $74.21 on Tuesday. The company has a market cap of $18.35 billion, a price-to-earnings ratio of 29.57 and a beta of 1.38. The firm’s 50-day simple moving average is $72.91 and its 200-day simple moving average is $66.27. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies Holdings, Inc. has a fifty-two week low of $46.61 and a fifty-two week high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly 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. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is 39.84%.

SS&C Technologies announced that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on SSNC. Needham & Company LLC lifted their price objective on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, DA Davidson boosted their price target on SS&C Technologies from $88.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Insider Transactions at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred 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 transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock valued at $44,821,055 over the last three months. 15.40% of the stock is owned by corporate insiders.

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.