Prescott Group Capital Management L.L.C. grew its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Free Report) by 19.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,284 shares of the technology company’s stock after purchasing an additional 5,000 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in SS&C Technologies were worth $1,896,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of SS&C Technologies by 482.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,727,873 shares of the technology company’s stock worth $210,514,000 after acquiring an additional 3,088,224 shares during the last quarter. Norges Bank bought a new stake in SS&C Technologies during the 4th quarter worth about $124,570,000. Shapiro Capital Management LLC acquired a new position in SS&C Technologies during the 4th quarter valued at about $118,298,000. Capital World Investors bought a new position in shares of SS&C Technologies in the 1st quarter valued at about $103,226,000. Finally, Pzena Investment Management LLC grew its position in shares of SS&C Technologies by 10.7% during the 1st quarter. Pzena Investment Management LLC now owns 13,982,655 shares of the technology company’s stock worth $789,601,000 after buying an additional 1,346,697 shares during the period. Institutional investors own 82.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SSNC. Raymond James lowered their target price on shares of SS&C Technologies from $74.00 to $71.00 in a report on Friday, July 28th. Morgan Stanley decreased their target price on SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. DA Davidson cut their price target on shares of SS&C Technologies from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. TheStreet cut shares of SS&C Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, September 13th. Finally, UBS Group assumed coverage on shares of SS&C Technologies in a research report on Tuesday, November 7th. They set a “buy” rating and a $72.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.33.
Insiders Place Their Bets
In other news, Director Normand A. Boulanger sold 60,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $55.06, for a total value of $3,303,600.00. Following the sale, the director now owns 280,000 shares of the company’s stock, valued at $15,416,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Normand A. Boulanger sold 60,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $55.06, for a total transaction of $3,303,600.00. Following the sale, the director now owns 280,000 shares in the company, valued at $15,416,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $55.19, for a total value of $1,103,800.00. Following the transaction, the director now directly owns 380,000 shares of the company’s stock, valued at $20,972,200. The disclosure for this sale can be found here. Insiders sold a total of 220,000 shares of company stock valued at $12,353,800 in the last quarter. 14.60% of the stock is currently owned by insiders.
SS&C Technologies Stock Up 0.2 %
Shares of SSNC stock traded up $0.12 during trading hours on Monday, hitting $55.12. 207,984 shares of the company were exchanged, compared to its average volume of 1,150,861. The company has a market capitalization of $13.64 billion, a PE ratio of 22.73 and a beta of 1.41. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $64.52. The business has a 50 day moving average of $52.47 and a two-hundred day moving average of $55.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09.
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last released its earnings results on Thursday, October 26th. The technology company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.03). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. SS&C Technologies had a return on equity of 16.77% and a net margin of 11.42%. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.
SS&C Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, November 30th. SS&C Technologies’s payout ratio is 39.67%.
SS&C Technologies 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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.
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