SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Update

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,310,000 shares, an increase of 29.1% from the October 15th total of 1,790,000 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SSNC. 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. Raymond James boosted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred 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 owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 87.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on 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 completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,190 shares of company stock worth $41,386,285 in the last ninety days. 15.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Janus Henderson Group PLC raised its holdings in SS&C Technologies by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock worth $1,191,774,000 after purchasing an additional 817,501 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in SS&C Technologies by 0.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after purchasing an additional 53,080 shares during the last quarter. State Street Corp boosted its holdings in SS&C Technologies by 2.2% during the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after acquiring an additional 121,223 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of SS&C Technologies by 4.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after acquiring an additional 201,632 shares during the period. Finally, FMR LLC lifted its position in shares of SS&C Technologies by 1.5% in the 3rd quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock worth $295,657,000 after purchasing an additional 58,389 shares during the period. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Down 1.1 %

NASDAQ:SSNC traded down $0.83 during trading hours on Friday, reaching $73.40. 1,564,268 shares of the company traded hands, compared to its average volume of 1,081,484. SS&C Technologies has a 1 year low of $54.44 and a 1 year high of $77.02. The stock has a market capitalization of $18.18 billion, a P/E ratio of 26.31 and a beta of 1.39. The business’s 50-day moving average price is $74.03 and its two-hundred day moving average price is $68.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. Analysts predict that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.36%. SS&C Technologies’s dividend payout ratio is 35.84%.

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

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.