SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Up 80.3% in March

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SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a large growth in short interest in March. As of March 13th, there was short interest totalling 4,020,400 shares, a growth of 80.3% from the February 27th total of 2,230,000 shares. Based on an average daily trading volume, of 2,297,800 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.8% of the shares of the company are sold short.

A number of analysts recently commented on the stock. DA Davidson upped their price target on shares of SS&C Technologies from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. BidaskClub cut shares of SS&C Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, March 11th. Credit Suisse Group upped their price target on shares of SS&C Technologies from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Jefferies Financial Group upped their price target on shares of SS&C Technologies to $61.00 and gave the company a “hold” rating in a research note on Monday, February 24th. Finally, Zacks Investment Research lowered shares of SS&C Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. SS&C Technologies has a consensus rating of “Buy” and a consensus target price of $69.79.

SSNC stock opened at $44.51 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.00 and a current ratio of 1.00. SS&C Technologies has a 52 week low of $29.51 and a 52 week high of $67.73. The firm’s fifty day moving average is $54.12 and its 200 day moving average is $56.29. The firm has a market cap of $11.18 billion, a P/E ratio of 26.81 and a beta of 1.30.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Wednesday, February 12th. The technology company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. SS&C Technologies had a net margin of 9.46% and a return on equity of 19.64%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. As a group, analysts forecast that SS&C Technologies will post 3.84 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.125 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.50 annualized dividend and a dividend yield of 1.12%. SS&C Technologies’s dividend payout ratio is 13.81%.

In other SS&C Technologies news, Director Smita Conjeevaram purchased 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average cost of $39.43 per share, for a total transaction of $69,002.50. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $236,580. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick J. Pedonti sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $65.11, for a total transaction of $5,859,900.00. Following the sale, the chief financial officer now owns 50,000 shares in the company, valued at $3,255,500. The disclosure for this sale can be found here. Insiders have purchased a total of 3,001 shares of company stock worth $142,541 over the last 90 days. 14.50% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of SS&C Technologies by 89.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,328 shares of the technology company’s stock worth $140,000 after purchasing an additional 1,101 shares during the period. Nuveen Asset Management LLC lifted its position in shares of SS&C Technologies by 24.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,249,309 shares of the technology company’s stock worth $76,708,000 after purchasing an additional 248,656 shares during the period. Running Oak Capital LLC purchased a new stake in shares of SS&C Technologies in the 4th quarter worth about $4,969,000. Norges Bank purchased a new stake in shares of SS&C Technologies in the 4th quarter worth about $130,712,000. Finally, Pearl River Capital LLC purchased a new stake in shares of SS&C Technologies in the 4th quarter worth about $278,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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