Donoghue Forlines LLC Buys New Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• Donoghue Forlines LLC has acquired a new position in SS&C Technologies Holdings, purchasing 27,616 shares valued at approximately $2.3 million in the 1st quarter.
• Multiple institutional investors have increased their stakes in SS&C Technologies, with notable increases from Envestnet Asset Management of 34.7% and Cerity Partners of 19.4%.
• Analysts have raised price targets for SS&C Technologies, with Morgan Stanley setting a new price objective of $88.00 per share, reflecting a positive outlook on the company's performance.

Donoghue Forlines LLC purchased a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,616 shares of the technology company's stock, valued at approximately $2,307,000.

Several other institutional investors have also recently made changes to their positions in SSNC. Atwood & Palmer Inc. grew its position in SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock valued at $25,000 after buying an additional 166 shares during the period. Larson Financial Group LLC grew its position in SS&C Technologies by 634.8% during the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after buying an additional 292 shares during the period. Whittier Trust Co. acquired a new stake in SS&C Technologies during the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in SS&C Technologies during the first quarter valued at $29,000. Finally, Colonial Trust Co SC grew its position in shares of SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Trading Down 1.5%

SSNC stock traded down $1.27 during trading on Monday, reaching $85.53. 1,092,910 shares of the stock were exchanged, compared to its average volume of 1,295,010. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $82.81 and a 200-day moving average price of $81.68. SS&C Technologies Holdings, Inc. has a 1 year low of $66.83 and a 1 year high of $89.73. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 26.81 and a beta of 1.25.

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

SS&C Technologies Announces Dividend

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

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the sale, the director directly owned 12,476 shares of the company's stock, valued at $997,081.92. This represents a 50.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SSNC has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Raymond James Financial lifted their target price on shares of SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their target price on shares of SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. UBS Group lifted their target price on shares of SS&C Technologies from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, DA Davidson lifted their target price on shares of SS&C Technologies from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target 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.