LRI Investments LLC Invests $357,000 in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

LRI Investments LLC purchased a new position in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 1st quarter, HoldingsChannel reports. The fund purchased 5,659 shares of the technology company’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in SS&C Technologies by 14.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock worth $79,000 after purchasing an additional 166 shares during the period. Quent Capital LLC raised its stake in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares during the period. Carret Asset Management LLC raised its stake in shares of SS&C Technologies by 2.5% in the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after acquiring an additional 175 shares during the period. IFM Investors Pty Ltd raised its stake in shares of SS&C Technologies by 0.4% in the 1st quarter. IFM Investors Pty Ltd now owns 47,246 shares of the technology company’s stock valued at $3,041,000 after acquiring an additional 190 shares during the period. Finally, Scotia Capital Inc. raised its stake in shares of SS&C Technologies by 0.3% in the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after acquiring an additional 191 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SSNC has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group boosted their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Finally, DA Davidson upped their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.80.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 10,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $63.94, for a total transaction of $639,400.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $2,429,720. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 32,500 shares of company stock worth $2,027,750. 15.40% of the stock is owned by insiders.

SS&C Technologies Stock Performance

SS&C Technologies stock traded up $4.27 during trading hours on Friday, reaching $72.29. 2,959,802 shares of the stock were exchanged, compared to its average volume of 867,725. The stock has a market cap of $17.88 billion, a P/E ratio of 28.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $73.30. The firm’s 50 day moving average is $63.27 and its 200 day moving average is $62.60.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.52%. SS&C Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. SS&C Technologies’s payout ratio is currently 38.25%.

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.