Perritt Capital Management Inc Invests $474,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Perritt Capital Management Inc purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,565 shares of the technology company’s stock, valued at approximately $474,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of SS&C Technologies by 14.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after purchasing an additional 166 shares during the period. Quent Capital LLC raised its position in SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after buying an additional 172 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of SS&C Technologies by 0.3% in the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after acquiring an additional 191 shares during the period. Graypoint LLC boosted its holdings in shares of SS&C Technologies by 2.6% in the first quarter. Graypoint LLC now owns 8,230 shares of the technology company’s stock valued at $530,000 after acquiring an additional 207 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of SS&C Technologies by 4.9% during the first quarter. Yousif Capital Management LLC now owns 4,477 shares of the technology company’s stock worth $288,000 after acquiring an additional 211 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SSNC. Royal Bank of Canada boosted their target price on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC increased their price objective on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, DA Davidson boosted their target price on shares of SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SS&C Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $70.75.

Insiders Place Their Bets

In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Michael Jay Zamkow sold 7,500 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.46, for a total value of $453,450.00. Following the completion of the transaction, the director now directly owns 41,576 shares in the company, valued at $2,513,684.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The disclosure for this sale can be found here. Insiders have sold 468,190 shares of company stock valued at $34,031,675 in the last ninety days. Insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Performance

Shares of SSNC opened at $72.83 on Thursday. SS&C Technologies Holdings, Inc. has a 12-month low of $46.61 and a 12-month high of $75.10. The stock has a market cap of $18.01 billion, a P/E ratio of 29.02 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $70.09 and a two-hundred day moving average of $65.12.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. SS&C Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is 39.84%.

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 comprising 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 consisting of claims adjudication, benefit management, care management, and business intelligence solutions.