Jackson Square Capital LLC Acquires New Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Jackson Square Capital LLC acquired a new stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,728 shares of the technology company’s stock, valued at approximately $1,612,000.

Other large investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in SS&C Technologies in the 3rd quarter worth about $221,000. Old West Investment Management LLC boosted its stake in SS&C Technologies by 19.1% in the 3rd quarter. Old West Investment Management LLC now owns 111,784 shares of the technology company’s stock worth $8,295,000 after buying an additional 17,893 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in SS&C Technologies in the 3rd quarter worth about $1,818,000. QRG Capital Management Inc. boosted its stake in SS&C Technologies by 533.3% in the 3rd quarter. QRG Capital Management Inc. now owns 50,946 shares of the technology company’s stock worth $3,781,000 after buying an additional 42,901 shares during the last quarter. Finally, National Pension Service boosted its stake in SS&C Technologies by 5.4% in the 3rd quarter. National Pension Service now owns 530,166 shares of the technology company’s stock worth $39,344,000 after buying an additional 27,336 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Insiders Place Their Bets

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 in the last three months. 15.40% of the stock is owned by insiders.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $74.17 on Thursday. The company has a market cap of $18.37 billion, a P/E ratio of 26.58 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies Holdings, Inc. has a one year low of $51.92 and a one year high of $77.02. The business’s 50-day simple moving average is $73.96 and its 200 day simple moving average is $68.32.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $1.04 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.35%. SS&C Technologies’s payout ratio is currently 35.84%.

Analyst Ratings Changes

A number of analysts have issued reports on SSNC shares. DA Davidson reissued a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Raymond James lifted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $77.75.

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.