Reinhart Partners LLC. Has $21.12 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Reinhart Partners LLC. reduced its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,617 shares of the technology company’s stock after selling 20,070 shares during the quarter. Reinhart Partners LLC.’s holdings in SS&C Technologies were worth $21,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in SS&C Technologies by 39.3% during the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after purchasing an additional 18,878 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after purchasing an additional 100,197 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after buying an additional 11,497 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of SS&C Technologies by 4.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after buying an additional 201,632 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in SS&C Technologies during the 2nd quarter worth $1,661,000. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on 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 of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 over the last ninety days. 15.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SSNC has been the subject of several recent analyst reports. Needham & Company LLC increased their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.75.

SS&C Technologies Trading Up 1.9 %

NASDAQ SSNC opened at $75.44 on Friday. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 27.43 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 52 week low of $46.61 and a 52 week high of $76.94. The stock’s 50 day moving average price is $73.44 and its two-hundred day moving average price is $66.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

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

SS&C Technologies announced that its board has initiated a share repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. SS&C Technologies’s dividend payout ratio is 36.36%.

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.