State of Alaska Department of Revenue decreased its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,486 shares of the technology company’s stock after selling 5,818 shares during the period. State of Alaska Department of Revenue’s holdings in SS&C Technologies were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in shares of SS&C Technologies during the second quarter worth $25,000. Capital Investment Advisory Services LLC grew its stake in shares of SS&C Technologies by 930.0% during the second quarter. Capital Investment Advisory Services LLC now owns 515 shares of the technology company’s stock worth $30,000 after purchasing an additional 465 shares in the last quarter. Hudock Capital Group LLC acquired a new position in shares of SS&C Technologies during the second quarter worth $42,000. Machina Capital S.A.S. acquired a new position in shares of SS&C Technologies during the second quarter worth $52,000. Finally, FTB Advisors Inc. acquired a new position in shares of SS&C Technologies during the second quarter worth $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.
In related news, Director Jonathan E. Michael acquired 2,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $48.11 per share, for a total transaction of $96,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.50% of the company’s stock.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. SS&C Technologies had a net margin of 7.22% and a return on equity of 18.78%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. SS&C Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 3.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.79%. SS&C Technologies’s dividend payout ratio is presently 15.27%.
A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $55.00 target price (down previously from $64.00) on shares of SS&C Technologies in a research note on Friday, October 4th. Needham & Company LLC lowered their target price on shares of SS&C Technologies to $65.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 30th. Zacks Investment Research upgraded shares of SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. DA Davidson downgraded shares of SS&C Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, BidaskClub upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $68.00.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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