SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in SS&C Technologies by 5.9%, owning a total of 65,872 shares worth $5,502,000 at the end of the first quarter.
• SS&C Technologies reported $1.45 EPS for the last quarter, surpassing analysts' expectations and marking a 5.9% increase in revenue year-over-year.
• Multiple analyst upgrades have raised SS&C Technologies' price targets, with firms like Morgan Stanley and Needham giving the company a strong rating and pricing the stock between $88.00 and $108.00.

TD Asset Management Inc raised its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Free Report) by 5.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,872 shares of the technology company's stock after purchasing an additional 3,694 shares during the quarter. TD Asset Management Inc's holdings in SS&C Technologies were worth $5,502,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of SS&C Technologies by 64.9% in the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock valued at $169,379,000 after purchasing an additional 880,058 shares in the last quarter. Senator Investment Group LP grew its stake in shares of SS&C Technologies by 133.7% in the fourth quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company's stock worth $115,123,000 after acquiring an additional 869,175 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of SS&C Technologies by 52.4% in the fourth quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company's stock valued at $172,038,000 after acquiring an additional 780,616 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of SS&C Technologies by 1,135.3% in the first quarter. Wedge Capital Management L L P NC now owns 707,105 shares of the technology company's stock valued at $59,064,000 after acquiring an additional 649,864 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in SS&C Technologies during the 4th quarter worth $49,179,000. Institutional investors and hedge funds own 96.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC lifted their price objective on SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group boosted their target price on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Raymond James Financial raised their target price on SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Finally, DA Davidson increased their price target 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, SS&C Technologies has a consensus rating of "Buy" and an average target price of $97.13.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.40% of the stock is currently owned by corporate insiders.

SS&C Technologies Stock Performance

SSNC traded up $0.11 during trading on Wednesday, hitting $86.05. 525,365 shares of the stock were exchanged, compared to its average volume of 1,390,335. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. SS&C Technologies Holdings, Inc. has a 1-year low of $66.83 and a 1-year high of $89.73. The stock has a fifty day moving average price of $82.34 and a two-hundred day moving average price of $81.48. The firm has a market capitalization of $21.02 billion, a P/E ratio of 26.97 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. SS&C Technologies had a net margin of 13.34% and a return on equity of 18.92%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business posted $1.27 earnings per share. SS&C Technologies's quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side 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 business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. SS&C Technologies's dividend payout ratio (DPR) is currently 31.35%.

About SS&C Technologies

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.