Russell Investments Group Ltd. Has $23.61 Million Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Russell Investments Group Ltd. lessened its holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% in the 2nd quarter, Holdings Channel reports. The firm owned 389,675 shares of the technology company’s stock after selling 29,283 shares during the quarter. Russell Investments Group Ltd.’s holdings in SS&C Technologies were worth $23,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of SS&C Technologies by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,698,336 shares of the technology company’s stock valued at $1,451,185,000 after purchasing an additional 147,148 shares during the last quarter. Vanguard Group Inc. raised its holdings in SS&C Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,029,098 shares of the technology company’s stock worth $1,502,583,000 after acquiring an additional 266,741 shares during the period. Pzena Investment Management LLC raised its holdings in SS&C Technologies by 0.3% in the 2nd quarter. Pzena Investment Management LLC now owns 14,031,514 shares of the technology company’s stock worth $850,310,000 after acquiring an additional 48,859 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in SS&C Technologies by 6.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,847,899 shares of the technology company’s stock worth $475,583,000 after acquiring an additional 506,470 shares during the period. Finally, State Street Corp raised its holdings in SS&C Technologies by 0.4% in the 3rd quarter. State Street Corp now owns 5,154,466 shares of the technology company’s stock worth $246,126,000 after acquiring an additional 18,284 shares during the period. Institutional investors and hedge funds own 82.17% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $55.12 on Tuesday. The stock has a market cap of $13.64 billion, a P/E ratio of 22.78 and a beta of 1.41. The company’s 50-day simple moving average is $52.46 and its 200 day simple moving average is $55.80. SS&C Technologies Holdings, Inc. has a twelve month low of $46.61 and a twelve month high of $64.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.09.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 26th. The technology company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.03). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. SS&C Technologies had a net margin of 11.42% and a return on equity of 16.77%. As a group, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.24 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.74%. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.67%.

Analysts Set New Price Targets

Several research analysts recently commented on SSNC shares. Morgan Stanley dropped their target price on shares of SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 9th. DA Davidson dropped their price objective on shares of SS&C Technologies from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Needham & Company LLC dropped their price objective on shares of SS&C Technologies from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Finally, Raymond James dropped their price objective on shares of SS&C Technologies from $74.00 to $71.00 in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $66.33.

Insider Buying and Selling at SS&C Technologies

In other news, Director Normand A. Boulanger sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $55.06, for a total transaction of $3,303,600.00. Following the transaction, the director now directly owns 280,000 shares in the company, valued at $15,416,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Rahul Kanwar sold 140,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the transaction, the chief operating officer now directly owns 50,000 shares in the company, valued at $2,838,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Normand A. Boulanger sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $55.06, for a total transaction of $3,303,600.00. Following the transaction, the director now owns 280,000 shares in the company, valued at $15,416,800. The disclosure for this sale can be found here. Insiders have sold a total of 220,000 shares of company stock worth $12,353,800 over the last ninety days. Corporate insiders own 14.60% of the company’s stock.

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.