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

Teacher Retirement System of Texas lowered its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 57.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,053 shares of the technology company’s stock after selling 39,002 shares during the quarter. Teacher Retirement System of Texas’ holdings in SS&C Technologies were worth $2,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. UNIVEST FINANCIAL Corp increased its holdings in shares of SS&C Technologies by 0.8% in the third quarter. UNIVEST FINANCIAL Corp now owns 140,405 shares of the technology company’s stock worth $12,462,000 after purchasing an additional 1,085 shares during the last quarter. Covestor Ltd increased its stake in SS&C Technologies by 501.4% in the 3rd quarter. Covestor Ltd now owns 1,245 shares of the technology company’s stock worth $111,000 after acquiring an additional 1,038 shares during the last quarter. Tranquility Partners LLC purchased a new stake in shares of SS&C Technologies during the 3rd quarter worth approximately $241,000. Rakuten Investment Management Inc. bought a new position in shares of SS&C Technologies during the 3rd quarter valued at approximately $3,420,000. Finally, Vest Financial LLC boosted its position in shares of SS&C Technologies by 37.2% during the 3rd quarter. Vest Financial LLC now owns 6,009 shares of the technology company’s stock valued at $533,000 after acquiring an additional 1,628 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $82.88 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. SS&C Technologies Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $91.07. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 24.59 and a beta of 1.19. The firm’s 50-day moving average is $86.66 and its 200 day moving average is $86.12.

SS&C Technologies Cuts Dividend

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

Wall Street Analyst Weigh In

SSNC has been the topic of a number of recent research reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SS&C Technologies in a research note on Wednesday, January 21st. UBS Group upped their target price on shares of SS&C Technologies from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Jefferies Financial Group lifted their price target on SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Morgan Stanley boosted their price objective on SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Finally, Wall Street Zen raised SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Normand A. Boulanger sold 150,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total value of $12,877,500.00. Following the transaction, the director owned 386,924 shares of the company’s stock, valued at $33,217,425.40. This represents a 27.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.40% of the stock is currently owned by insiders.

SS&C Technologies 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.