State of Alaska Department of Revenue Cuts Stock Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

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State of Alaska Department of Revenue lowered its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.2% during the third quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SSNC. Cullen Frost Bankers Inc. purchased a new position in SS&C Technologies during the second quarter worth approximately $25,000. Capital Investment Advisory Services LLC raised its stake in shares of SS&C Technologies by 930.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 515 shares of the technology company’s stock valued at $30,000 after acquiring an additional 465 shares during the period. Hudock Capital Group LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $42,000. Machina Capital S.A.S. purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $52,000. Finally, FTB Advisors Inc. purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $52,000. 81.90% of the stock is currently owned by institutional investors.

In other news, Director Jonathan E. Michael purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $48.11 per share, with a total value of $96,220.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.50% of the company’s stock.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of SS&C Technologies in a research note on Monday, July 1st. DA Davidson downgraded shares of SS&C Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Buckingham Research set a $67.00 target price on shares of SS&C Technologies and gave the company a “buy” rating in a research note on Friday, September 6th. Credit Suisse Group cut their target price on shares of SS&C Technologies from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Raymond James cut their target price on shares of SS&C Technologies from $78.00 to $60.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $68.00.

SS&C Technologies stock opened at $50.71 on Friday. SS&C Technologies Holdings, Inc. has a 12-month low of $40.96 and a 12-month high of $67.73. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s fifty day moving average price is $49.05 and its 200 day moving average price is $55.62.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts forecast that SS&C Technologies Holdings, Inc. will post 3.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, August 30th. SS&C Technologies’s dividend payout ratio (DPR) is 15.27%.

SS&C Technologies Company Profile

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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Institutional Ownership by Quarter for SS&C Technologies (NASDAQ:SSNC)

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