Headlands Technologies LLC Purchases 43,072 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Key Points

• Headlands Technologies LLC increased its stake in SS&C Technologies by 208.6%, acquiring an additional 43,072 shares, bringing its total to 63,723 shares valued at about $5.3 million.
• Multiple analysts have raised their price targets on SS&C Technologies, with Raymond James setting a new target of $95 and UBS raising theirs to $108, reflecting a generally positive outlook on the stock.
• SS&C Technologies reported a quarterly earnings per share (EPS) of $1.45, exceeding analyst expectations, with quarterly revenue of $1.54 billion, a 5.9% increase year-over-year.

Headlands Technologies LLC boosted its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 208.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,723 shares of the technology company's stock after acquiring an additional 43,072 shares during the period. Headlands Technologies LLC's holdings in SS&C Technologies were worth $5,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. increased its holdings 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 boosted its position in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after acquiring an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of SS&C Technologies in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in shares of SS&C Technologies in the 1st quarter worth $29,000. Finally, Colonial Trust Co SC lifted its stake in shares of SS&C Technologies by 239.3% during the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James Financial boosted 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. UBS Group lifted their price objective on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Needham & Company LLC increased their target price 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. DA Davidson raised 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 note on Friday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $97.13.

SS&C Technologies Trading Up 0.3%

Shares of SS&C Technologies stock opened at $86.17 on Thursday. The firm's 50 day simple moving average is $82.45 and its two-hundred day simple moving average is $81.51. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 27.01 and a beta of 1.25. SS&C Technologies Holdings, Inc. has a 12-month low of $66.83 and a 12-month high of $89.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. 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 earned $1.27 earnings per share. Analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, June 2nd. SS&C Technologies's dividend payout ratio (DPR) is presently 31.35%.

Insider Activity

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 stock was sold at an average price of $79.92, for a total value of $999,000.00. Following the sale, the director owned 12,476 shares in the company, valued at $997,081.92. This represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.40% of the stock is currently owned by insiders.

SS&C Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.