Kennon Green & Company LLC Sells 8,475 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Kennon Green & Company LLC reduced its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,520 shares of the technology company’s stock after selling 8,475 shares during the quarter. SS&C Technologies comprises 4.4% of Kennon Green & Company LLC’s portfolio, making the stock its 7th biggest position. Kennon Green & Company LLC’s holdings in SS&C Technologies were worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Burgundy Asset Management Ltd. increased its position in shares of SS&C Technologies by 2.2% during the 4th quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock worth $288,243,000 after purchasing an additional 101,948 shares during the last quarter. SG Americas Securities LLC raised its position in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after buying an additional 18,878 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in SS&C Technologies by 2,178.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after acquiring an additional 100,197 shares in the last quarter. UBS Group AG lifted its position in SS&C Technologies by 24.5% during the fourth quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after purchasing an additional 79,029 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after acquiring an additional 11,497 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Trading Up 1.4 %

NASDAQ:SSNC opened at $74.74 on Friday. SS&C Technologies Holdings, Inc. has a one year low of $46.61 and a one year high of $75.10. The company has a market cap of $18.34 billion, a PE ratio of 29.78 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50-day moving average of $70.76 and a 200-day moving average of $65.31.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. SS&C Technologies’s dividend payout ratio is presently 39.84%.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total value of $453,450.00. Following the completion of the sale, the director now directly owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 7,500 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the transaction, the director now owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The disclosure for this sale can be found here. Insiders sold a total of 468,190 shares of company stock worth $34,031,675 over the last quarter. Insiders own 15.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. DA Davidson increased their target price on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Needham & Company LLC lifted their price objective on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.75.

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.