Parallel Advisors LLC Has $4.33 Million Stock Position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Parallel Advisors LLC lifted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,160 shares of the technology company’s stock after purchasing an additional 309 shares during the quarter. Parallel Advisors LLC’s holdings in SS&C Technologies were worth $4,334,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SSNC. Charles Schwab Investment Management Inc. boosted its holdings in shares of SS&C Technologies by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 753,781 shares of the technology company’s stock worth $46,064,000 after buying an additional 22,111 shares during the period. Principal Securities Inc. bought a new stake in shares of SS&C Technologies during the 4th quarter worth $53,000. Teacher Retirement System of Texas boosted its holdings in shares of SS&C Technologies by 61.2% during the 4th quarter. Teacher Retirement System of Texas now owns 28,018 shares of the technology company’s stock worth $1,712,000 after buying an additional 10,638 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of SS&C Technologies by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,310,330 shares of the technology company’s stock worth $141,190,000 after buying an additional 199,780 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of SS&C Technologies by 5.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,713 shares of the technology company’s stock worth $594,000 after buying an additional 531 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated 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 directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The disclosure for this sale can be found here. Insiders have sold a total of 468,190 shares of company stock worth $34,031,675 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

Analyst Ratings Changes

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

SS&C Technologies Price Performance

NASDAQ:SSNC opened at $74.74 on Friday. The firm has a market cap of $18.34 billion, a PE ratio of 29.78 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 12 month low of $46.61 and a 12 month high of $75.10. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $70.76 and its two-hundred day moving average price is $65.31.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly 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. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. SS&C Technologies’s payout ratio is 39.84%.

SS&C Technologies Company Profile

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.