2,825 Shares in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Purchased by Metis Global Partners LLC

Metis Global Partners LLC purchased a new position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,825 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB bought a new stake in SS&C Technologies in the first quarter valued at $94,939,000. Millennium Management LLC increased its holdings in shares of SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after acquiring an additional 1,120,961 shares during the period. AQR Capital Management LLC lifted its position in SS&C Technologies by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after purchasing an additional 571,334 shares during the last quarter. Capital International Investors boosted its stake in SS&C Technologies by 111.1% during the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after purchasing an additional 564,017 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in SS&C Technologies by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after purchasing an additional 349,911 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SSNC shares. Raymond James lifted their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 45.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Down 0.8 %

SS&C Technologies stock opened at $72.90 on Wednesday. SS&C Technologies Holdings, Inc. has a 1 year low of $54.75 and a 1 year high of $77.02. The firm’s 50 day moving average price is $74.03 and its two-hundred day moving average price is $69.17. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 26.13 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. SS&C Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.