PenderFund Capital Management Ltd. Lowers Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

PenderFund Capital Management Ltd. reduced its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 37.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,810 shares of the technology company’s stock after selling 25,760 shares during the quarter. SS&C Technologies accounts for about 1.1% of PenderFund Capital Management Ltd.’s investment portfolio, making the stock its 24th largest position. PenderFund Capital Management Ltd.’s holdings in SS&C Technologies were worth $3,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SSNC. American Century Companies Inc. lifted its stake in shares of SS&C Technologies by 18.1% in the 1st quarter. American Century Companies Inc. now owns 4,476 shares of the technology company’s stock valued at $335,000 after acquiring an additional 685 shares during the last quarter. Private Advisor Group LLC increased its stake in SS&C Technologies by 19.1% in the 1st quarter. Private Advisor Group LLC now owns 3,591 shares of the technology company’s stock worth $270,000 after purchasing an additional 577 shares during the period. MetLife Investment Management LLC bought a new stake in SS&C Technologies in the first quarter valued at approximately $336,000. Rhumbline Advisers boosted its stake in shares of SS&C Technologies by 13.0% during the first quarter. Rhumbline Advisers now owns 210,330 shares of the technology company’s stock valued at $15,779,000 after purchasing an additional 24,230 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in shares of SS&C Technologies by 10.6% in the first quarter. Yousif Capital Management LLC now owns 4,780 shares of the technology company’s stock worth $359,000 after purchasing an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 82.17% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the topic of a number of analyst reports. Raymond James decreased their price objective on shares of SS&C Technologies from $74.00 to $71.00 in a research report on Friday, July 28th. Morgan Stanley dropped their price objective on SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, October 27th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 9th. DA Davidson dropped their price target on SS&C Technologies from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, Needham & Company LLC reduced their price objective on shares of SS&C Technologies from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, SS&C Technologies has an average rating of “Buy” and an average price target of $66.33.

Insider Buying and Selling at SS&C Technologies

In other news, COO Rahul Kanwar sold 140,000 shares of SS&C Technologies stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the transaction, the chief operating officer now owns 50,000 shares in the company, valued at approximately $2,838,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SS&C Technologies news, COO Rahul Kanwar sold 140,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $56.76, for a total value of $7,946,400.00. Following the completion of the sale, the chief operating officer now owns 50,000 shares in the company, valued at $2,838,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Normand A. Boulanger sold 20,000 shares of SS&C Technologies stock in a transaction dated 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 in the company, valued at $20,972,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,000 shares of company stock valued at $12,353,800. Insiders own 14.60% of the company’s stock.

SS&C Technologies Stock Performance

SSNC stock traded down $0.17 on Tuesday, hitting $54.95. The company had a trading volume of 133,660 shares, compared to its average volume of 1,150,202. 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 Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $64.52. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 22.78 and a beta of 1.41. The stock’s 50-day simple moving average is $52.46 and its 200 day simple moving average is $55.80.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 26th. The technology company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. SS&C Technologies had a net margin of 11.42% and a return on equity of 16.77%. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.96 annualized dividend and a yield of 1.75%. SS&C Technologies’s dividend payout ratio (DPR) is 39.67%.

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 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.