SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Significant Increase in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,770,000 shares, a growth of 22.1% from the April 30th total of 1,450,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 986,800 shares, the days-to-cover ratio is currently 1.8 days.

SS&C Technologies Stock Up 1.8 %

Shares of SSNC traded up $1.10 during midday trading on Friday, reaching $62.05. The stock had a trading volume of 1,546,640 shares, compared to its average volume of 908,746. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 24.72 and a beta of 1.42. The company’s fifty day simple moving average is $62.32 and its two-hundred day simple moving average is $61.14. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $65.86. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. Equities research analysts expect that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Analyst Ratings Changes

Several research firms recently issued reports on SSNC. Citigroup boosted their price objective on SS&C Technologies from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. DA Davidson restated a “buy” rating and issued a $78.00 price objective on shares of SS&C Technologies in a report on Tuesday, April 16th. Jefferies Financial Group increased their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Needham & Company LLC raised their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $63.14, for a total value of $315,700.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $2,399,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 25,000 shares of company stock valued at $1,574,300. 15.40% of the stock is currently owned by insiders.

Institutional Trading of SS&C Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of SS&C Technologies by 14.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after buying an additional 166 shares in the last quarter. Quent Capital LLC lifted its position in SS&C Technologies by 76.8% in the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares during the last quarter. Carret Asset Management LLC boosted its stake in SS&C Technologies by 2.5% in the fourth quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after acquiring an additional 175 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of SS&C Technologies by 0.4% during the first quarter. IFM Investors Pty Ltd now owns 47,246 shares of the technology company’s stock worth $3,041,000 after purchasing an additional 190 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in shares of SS&C Technologies by 0.3% during the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.