Teacher Retirement System of Texas Sells 39,002 Shares of SS&C Technologies Holdings, Inc. $SSNC

Teacher Retirement System of Texas reduced its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 57.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,053 shares of the technology company’s stock after selling 39,002 shares during the period. Teacher Retirement System of Texas’ holdings in SS&C Technologies were worth $2,579,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caldwell Trust Co purchased a new stake in shares of SS&C Technologies in the second quarter valued at approximately $27,000. Quent Capital LLC bought a new stake in SS&C Technologies during the 3rd quarter valued at $39,000. Root Financial Partners LLC purchased a new stake in shares of SS&C Technologies in the 3rd quarter worth $42,000. Osterweis Capital Management Inc. bought a new position in shares of SS&C Technologies during the 2nd quarter worth $40,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of SS&C Technologies by 71.7% during the third quarter. Salem Investment Counselors Inc. now owns 625 shares of the technology company’s stock valued at $55,000 after buying an additional 261 shares during the period. 96.90% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Trading Down 2.2%

NASDAQ SSNC opened at $82.88 on Friday. SS&C Technologies Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $91.07. The company has a 50 day moving average price of $86.66 and a 200 day moving average price of $86.12. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.94. The firm has a market cap of $20.23 billion, a PE ratio of 24.59 and a beta of 1.19.

SS&C Technologies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 1st. SS&C Technologies’s dividend payout ratio is currently 32.05%.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on shares of SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. DA Davidson upped their price target on shares of SS&C Technologies from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on shares of SS&C Technologies from $97.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Raymond James Financial restated a “strong-buy” rating on shares of SS&C Technologies in a report on Wednesday, January 21st. Finally, Morgan Stanley lifted their price target on SS&C Technologies from $88.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.25.

Insider Buying and Selling at SS&C Technologies

In related news, Director Normand A. Boulanger sold 150,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total transaction of $12,877,500.00. Following the transaction, the director directly owned 386,924 shares in the company, valued at $33,217,425.40. The trade was a 27.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.40% of the stock is owned by insiders.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.