Allstate Corp Takes Position in SS&C Technologies Holdings, Inc. $SSNC

Allstate Corp bought a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,658 shares of the technology company’s stock, valued at approximately $857,000.

Several other institutional investors also recently bought and sold shares of SSNC. Caldwell Trust Co purchased a new stake in SS&C Technologies in the 2nd quarter worth $27,000. Quent Capital LLC purchased a new position in shares of SS&C Technologies during the third quarter valued at about $39,000. Osterweis Capital Management Inc. bought a new stake in shares of SS&C Technologies in the second quarter worth about $40,000. Salem Investment Counselors Inc. lifted its position in shares of SS&C Technologies by 71.7% in the third quarter. Salem Investment Counselors Inc. now owns 625 shares of the technology company’s stock worth $55,000 after buying an additional 261 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in SS&C Technologies during the third quarter valued at approximately $60,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Stock Up 0.5%

Shares of SSNC opened at $84.62 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of $86.39 and a 200 day moving average of $86.07. The company has a market cap of $20.65 billion, a PE ratio of 25.11 and a beta of 1.19. SS&C Technologies Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $91.07.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 23rd. The technology company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. SS&C Technologies had a net margin of 13.86% and a return on equity of 19.80%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 1st. SS&C Technologies’s payout ratio is 32.05%.

Insider Activity at SS&C Technologies

In other news, Director Normand A. Boulanger sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total transaction of $12,877,500.00. Following the transaction, the director owned 386,924 shares of the company’s stock, valued at approximately $33,217,425.40. This represents a 27.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 16.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SSNC. Wall Street Zen raised SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Morgan Stanley boosted their price target on shares of SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SS&C Technologies in a research note on Wednesday. UBS Group lifted their price objective on shares of SS&C Technologies from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada boosted their target price on shares of SS&C Technologies from $97.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.75.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.