Bank of Montreal Can Sells 4,141 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Bank of Montreal Can lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 110,715 shares of the technology company’s stock after selling 4,141 shares during the quarter. Bank of Montreal Can’s holdings in SS&C Technologies were worth $7,009,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC raised its holdings in SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after buying an additional 172 shares during the last quarter. Innealta Capital LLC bought a new position in shares of SS&C Technologies during the second quarter valued at about $26,000. ST Germain D J Co. Inc. purchased a new stake in shares of SS&C Technologies during the first quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $35,000. Finally, Benjamin Edwards Inc. increased its holdings in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 0.4 %

NASDAQ:SSNC opened at $74.21 on Tuesday. SS&C Technologies Holdings, Inc. has a 1-year low of $46.61 and a 1-year high of $76.94. The company has a market capitalization of $18.35 billion, a PE ratio of 29.57 and a beta of 1.38. The firm’s 50-day moving average price is $72.91 and its 200-day moving average price is $66.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.35%. SS&C Technologies’s dividend payout ratio is presently 39.84%.

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

Wall Street Analyst Weigh In

SSNC has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective 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. Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, Needham & Company LLC upped their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on 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 directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on 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 approximately $678,172.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on 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 sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,690 shares of company stock worth $44,821,055. Insiders own 15.40% of the company’s stock.

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.