Credit Suisse AG Has $13.06 Million Stake in SS&C Technologies Holdings, Inc. (SSNC)
Credit Suisse AG lifted its position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 229,867 shares of the technology company’s stock after purchasing an additional 15,396 shares during the quarter. Credit Suisse AG’s holdings in SS&C Technologies were worth $13,064,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in SS&C Technologies during the 2nd quarter worth about $207,000. Signature Financial Management Inc. acquired a new position in SS&C Technologies during the 2nd quarter worth about $208,000. Sky Investment Group LLC acquired a new position in SS&C Technologies during the 3rd quarter worth about $216,000. Jane Street Group LLC acquired a new position in SS&C Technologies during the 2nd quarter worth about $224,000. Finally, Korea Investment CORP acquired a new position in SS&C Technologies during the 2nd quarter worth about $280,000. 83.90% of the stock is currently owned by institutional investors and hedge funds.
In other SS&C Technologies news, Director Jonathan E. Michael bought 10,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was acquired at an average cost of $44.58 per share, with a total value of $445,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Jay Zamkow bought 22,100 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $47.53 per share, with a total value of $1,050,413.00. Following the completion of the purchase, the director now owns 21,000 shares in the company, valued at approximately $998,130. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 35,714 shares of company stock valued at $1,672,420. 17.50% of the stock is owned by company insiders.
SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $992.40 million for the quarter, compared to the consensus estimate of $1 billion. SS&C Technologies had a net margin of 7.61% and a return on equity of 15.04%. SS&C Technologies’s revenue for the quarter was up 137.3% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. On average, analysts forecast that SS&C Technologies Holdings, Inc. will post 2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Saturday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.68%. SS&C Technologies’s payout ratio is 17.88%.
A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of SS&C Technologies from a “sell” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Thursday, August 9th. DA Davidson downgraded shares of SS&C Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $62.00 to $60.00 in a research report on Friday, September 7th. Rosenblatt Securities assumed coverage on shares of SS&C Technologies in a research report on Wednesday. They set a “buy” rating and a $64.00 target price on the stock. Finally, Raymond James upped their target price on shares of SS&C Technologies from $67.00 to $68.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.21.
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About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, performance measurement, reconciliation, reporting, processing, and clearing.
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