Sumitomo Mitsui Trust Group Inc. Has $38.98 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 525,197 shares of the technology company’s stock after purchasing an additional 43,815 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of SS&C Technologies worth $38,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings in SS&C Technologies by 109.4% during the third quarter. GSA Capital Partners LLP now owns 8,697 shares of the technology company’s stock valued at $645,000 after purchasing an additional 4,544 shares in the last quarter. Entropy Technologies LP bought a new position in shares of SS&C Technologies in the third quarter valued at approximately $2,146,000. Wolverine Asset Management LLC raised its stake in shares of SS&C Technologies by 198.8% in the third quarter. Wolverine Asset Management LLC now owns 9,590 shares of the technology company’s stock valued at $712,000 after acquiring an additional 19,300 shares during the last quarter. Covestor Ltd raised its stake in shares of SS&C Technologies by 10.3% in the third quarter. Covestor Ltd now owns 2,262 shares of the technology company’s stock valued at $168,000 after acquiring an additional 212 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of SS&C Technologies by 1.5% in the third quarter. Assetmark Inc. now owns 52,398 shares of the technology company’s stock valued at $3,888,000 after acquiring an additional 780 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $73.40 on Friday. The firm has a fifty day moving average of $74.03 and a two-hundred day moving average of $68.90. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52 week low of $54.44 and a 52 week high of $77.02. 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 (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 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 during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies announced that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 $0.25 dividend. This is a positive change 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 annualized dividend and a dividend yield of 1.36%. SS&C Technologies’s payout ratio is 35.84%.

Insider Activity

In related news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This represents a 87.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock valued at $41,386,285 in the last quarter. Company insiders own 15.40% of the company’s stock.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price 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. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James boosted their price objective on shares of 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, StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies presently has an average rating of “Moderate Buy” and an average target price of $77.75.

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.