Old West Investment Management LLC Has $8.30 Million Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Old West Investment Management LLC boosted its stake in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 19.1% in the third quarter, Holdings Channel reports. The firm owned 111,784 shares of the technology company’s stock after acquiring an additional 17,893 shares during the period. SS&C Technologies comprises about 3.0% of Old West Investment Management LLC’s holdings, making the stock its 12th biggest position. Old West Investment Management LLC’s holdings in SS&C Technologies were worth $8,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its holdings in shares of SS&C Technologies by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after buying an additional 53,080 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after buying an additional 201,632 shares during the period. Price T Rowe Associates Inc. MD grew its position in SS&C Technologies by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock worth $248,485,000 after buying an additional 25,183 shares in the last quarter. Millennium Management LLC raised its holdings in SS&C Technologies by 49.2% in the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after acquiring an additional 1,120,961 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of SS&C Technologies by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after acquiring an additional 349,911 shares during the period. Institutional investors own 96.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSNC shares. StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Raymond James raised their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $77.75.

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,690 shares of company stock valued at $44,821,055. Company insiders own 15.40% of the company’s stock.

SS&C Technologies Trading Up 2.9 %

Shares of SSNC opened at $74.00 on Wednesday. The stock has a fifty day moving average price of $73.96 and a two-hundred day moving average price of $68.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 25.77 and a beta of 1.39. SS&C Technologies Holdings, Inc. has a 52-week low of $51.92 and a 52-week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.35%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

SS&C Technologies announced that its board has authorized a stock buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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