Commerce Bank Buys 431,213 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• Commerce Bank significantly increased its holdings in SS&C Technologies Holdings, Inc. by 12,105.9% in the first quarter, now owning approximately 434,775 shares worth about $36.3 million.
• Other institutional investors, including Bank of America and Senator Investment Group, also raised their stakes in SS&C Technologies, indicating strong interest from the market, with 96.95% of the company owned by institutional investors.
• SS&C Technologies reported earnings of $1.45 per share for the last quarter, surpassing analyst estimates, with revenue of $1.54 billion, reflecting a year-over-year growth of 5.9%.

Commerce Bank lifted its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 12,105.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,775 shares of the technology company's stock after purchasing an additional 431,213 shares during the quarter. Commerce Bank owned 0.18% of SS&C Technologies worth $36,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSNC. Kestra Private Wealth Services LLC grew its stake in SS&C Technologies by 29.9% during the first quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock worth $1,341,000 after buying an additional 3,698 shares in the last quarter. Unigestion Holding SA boosted its holdings in SS&C Technologies by 861.7% during the 1st quarter. Unigestion Holding SA now owns 95,341 shares of the technology company's stock worth $7,964,000 after acquiring an additional 85,427 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of SS&C Technologies during the 1st quarter worth $509,000. Bank of New York Mellon Corp increased its position in shares of SS&C Technologies by 6.8% during the first quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after buying an additional 75,807 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of SS&C Technologies by 403.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock worth $6,337,000 after purchasing an additional 60,784 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director owned 12,476 shares of the company's stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.40% of the company's stock.

SS&C Technologies Stock Down 1.5%

Shares of SSNC traded down $1.25 during trading hours on Friday, hitting $84.23. The company had a trading volume of 1,301,002 shares, compared to its average volume of 1,189,137. SS&C Technologies Holdings, Inc. has a 52-week low of $66.83 and a 52-week high of $89.73. The firm has a fifty day moving average price of $82.13 and a 200-day moving average price of $81.38. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 26.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.14.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. On average, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. SS&C Technologies's payout ratio is currently 31.35%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC increased their price target on shares of SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial raised their target price on shares of SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, DA Davidson raised their target price on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $97.13.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.