State of Alaska Department of Revenue boosted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 21.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,304 shares of the technology company’s stock after buying an additional 5,331 shares during the period. State of Alaska Department of Revenue’s holdings in SS&C Technologies were worth $1,745,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SSNC. Versant Capital Management Inc raised its holdings in SS&C Technologies by 202.7% during the 1st quarter. Versant Capital Management Inc now owns 448 shares of the technology company’s stock worth $28,000 after buying an additional 300 shares during the period. Quad Cities Investment Group LLC acquired a new stake in SS&C Technologies during the 1st quarter worth about $48,000. Machina Capital S.A.S. acquired a new stake in SS&C Technologies during the 2nd quarter worth about $52,000. Advisory Services Network LLC raised its holdings in SS&C Technologies by 198.5% during the 1st quarter. Advisory Services Network LLC now owns 982 shares of the technology company’s stock worth $62,000 after buying an additional 653 shares during the period. Finally, CWM LLC raised its holdings in SS&C Technologies by 18.7% during the 1st quarter. CWM LLC now owns 1,036 shares of the technology company’s stock worth $66,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 83.20% of the company’s stock.
Several research firms have issued reports on SSNC. DA Davidson downgraded SS&C Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of SS&C Technologies in a report on Monday, July 1st. Needham & Company LLC cut their price objective on SS&C Technologies to $65.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 30th. ValuEngine downgraded SS&C Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, UBS Group upped their target price on SS&C Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.00.
In other news, SVP Joseph J. Frank sold 10,141 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $59.89, for a total value of $607,344.49. Following the transaction, the senior vice president now owns 9,910 shares in the company, valued at approximately $593,509.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.50% of the stock is owned by corporate insiders.
Shares of SSNC traded down $1.50 during trading hours on Monday, reaching $43.98. The company’s stock had a trading volume of 69,798 shares, compared to its average volume of 2,284,376. The company has a market cap of $11.17 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. SS&C Technologies Holdings, Inc. has a 1-year low of $40.96 and a 1-year high of $67.73. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $57.41.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Monday, July 29th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. SS&C Technologies had a return on equity of 19.13% and a net margin of 7.22%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.48 earnings per share for the current fiscal year.
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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