Pekin Hardy Strauss Inc. Sells 7,991 Shares of SS&C Technologies Holdings, Inc. $SSNC

Pekin Hardy Strauss Inc. lowered its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 42.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,935 shares of the technology company’s stock after selling 7,991 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in SS&C Technologies were worth $843,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SSNC. BlackRock Inc. purchased a new position in shares of SS&C Technologies during the second quarter valued at $1,043,987,000. Pzena Investment Management LLC lifted its stake in SS&C Technologies by 18.6% in the third quarter. Pzena Investment Management LLC now owns 13,093,819 shares of the technology company’s stock worth $1,009,141,000 after acquiring an additional 2,057,251 shares during the period. Dimensional Fund Advisors LP lifted its stake in SS&C Technologies by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,115,616 shares of the technology company’s stock worth $210,508,000 after acquiring an additional 60,089 shares during the period. Jupiter Topco LLC bought a new position in SS&C Technologies during the 2nd quarter worth about $178,337,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in SS&C Technologies by 5.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,123,578 shares of the technology company’s stock worth $163,664,000 after acquiring an additional 102,252 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

SS&C Technologies Stock Down 0.8%

Shares of NASDAQ SSNC traded down $0.60 during mid-day trading on Friday, reaching $77.71. 3,113,544 shares of the company were exchanged, compared to its average volume of 1,499,996. SS&C Technologies Holdings, Inc. has a 1 year low of $61.40 and a 1 year high of $89.93. The firm has a 50-day moving average of $81.01 and a 200 day moving average of $74.23. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 22.33 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. SS&C Technologies had a return on equity of 21.74% and a net margin of 12.76%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.57 earnings per share. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 6.38 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.30 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s dividend payout ratio (DPR) is 34.48%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Evercore raised shares of SS&C Technologies to an “outperform” rating in a research report on Friday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 23rd. BWS Financial reiterated a “buy” rating on shares of SS&C Technologies in a research note on Wednesday, September 9th. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of SS&C Technologies from $92.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.57.

About SS&C Technologies

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.