Alkeon Capital Management LLC Grows Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Alkeon Capital Management LLC boosted its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,316,252 shares of the technology company’s stock after acquiring an additional 198,111 shares during the period. Alkeon Capital Management LLC’s holdings in SS&C Technologies were worth $171,889,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SSNC. Diamond Hill Capital Management Inc. grew its stake in shares of SS&C Technologies by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after purchasing an additional 53,080 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of SS&C Technologies by 4.3% during the 2nd 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 in the last quarter. FMR LLC increased its holdings 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 valued at $295,657,000 after acquiring an additional 58,389 shares during the last quarter. Millennium Management LLC raised its position in shares of SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after acquiring an additional 1,120,961 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SS&C Technologies by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after purchasing an additional 349,911 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on SSNC shares. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Raymond James lifted their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Two 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at $494,172.84. This represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,000 shares of company stock valued at $16,560,660. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Trading Up 0.3 %

NASDAQ:SSNC opened at $77.36 on Friday. SS&C Technologies Holdings, Inc. has a 12-month low of $55.57 and a 12-month high of $77.53. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $74.20 and its 200-day simple moving average is $69.67. The firm has a market cap of $19.16 billion, a P/E ratio of 27.73 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the company posted $1.04 EPS. SS&C Technologies’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. SS&C Technologies’s payout ratio is currently 35.84%.

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.