Diamond Hill Capital Management Inc. Acquires 53,080 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Diamond Hill Capital Management Inc. raised its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,798,723 shares of the technology company’s stock after purchasing an additional 53,080 shares during the period. SS&C Technologies accounts for 2.1% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 11th largest holding. Diamond Hill Capital Management Inc.’s holdings in SS&C Technologies were worth $488,746,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the 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 sale, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The disclosure for this sale can be found here. In the last three months, insiders sold 468,190 shares of company stock valued at $34,031,675. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $74.74 on Friday. The stock has a market capitalization of $18.34 billion, a P/E ratio of 29.78 and a beta of 1.38. SS&C Technologies Holdings, Inc. has a 1-year low of $46.61 and a 1-year high of $75.10. 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 business has a 50-day moving average price of $70.76 and a two-hundred day moving average price of $65.31.

SS&C Technologies (NASDAQ:SSNC) last announced 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. SS&C Technologies’s dividend payout ratio is 39.84%.

Wall Street Analyst Weigh In

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

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.