Victory Capital Management Inc. Sells 100,822 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Victory Capital Management Inc. lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,168,294 shares of the technology company’s stock after selling 100,822 shares during the quarter. Victory Capital Management Inc.’s holdings in SS&C Technologies were worth $86,699,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after buying an additional 100,197 shares in the last quarter. National Pension Service grew its stake in SS&C Technologies by 5.4% in the 3rd quarter. National Pension Service now owns 530,166 shares of the technology company’s stock valued at $39,344,000 after purchasing an additional 27,336 shares during the period. State Board of Administration of Florida Retirement System grew its stake in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in SS&C Technologies in the 2nd quarter valued at $1,661,000. Finally, Jackson Square Capital LLC bought a new position in SS&C Technologies in the 3rd quarter valued at $1,612,000. Institutional investors own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Raymond James increased their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SS&C Technologies has an average rating of “Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

Shares of SSNC opened at $74.85 on Thursday. The stock’s 50-day simple moving average is $73.98 and its 200 day simple moving average is $68.78. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 26.83 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a 52-week low of $53.46 and a 52-week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 EPS. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors 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 yield of 1.34%. SS&C Technologies’s dividend payout ratio is 35.84%.

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

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have 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.