SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Update

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,310,000 shares, an increase of 29.1% from the October 15th total of 1,790,000 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

SSNC has been the subject of several research reports. Royal Bank of Canada increased their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. DA Davidson reissued a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Finally, Raymond James boosted their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock traded down $0.83 during midday trading on Friday, hitting $73.40. 1,564,268 shares of the company were exchanged, compared to its average volume of 1,081,484. The firm has a 50 day simple moving average of $74.03 and a 200-day simple moving average of $68.90. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. SS&C Technologies has a 52 week low of $54.44 and a 52 week high of $77.02. The firm has a market cap of $18.18 billion, a P/E ratio of 26.31 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm posted $1.04 EPS. The business’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current year.

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

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. SS&C Technologies’s payout ratio is 35.84%.

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value 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 trade represents a 45.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,190 shares of company stock worth $41,386,285 in the last three months. 15.40% of the stock is owned by insiders.

Institutional Trading of SS&C Technologies

Large investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in SS&C Technologies in the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of SS&C Technologies in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. raised its stake in SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares during the period. Versant Capital Management Inc lifted its position in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after buying an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of SS&C Technologies during the 2nd quarter worth approximately $47,000. Institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.