SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,230,000 shares, an increase of 18.0% from the September 30th total of 1,890,000 shares. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is presently 1.5 days. Currently, 1.0% of the company’s shares are sold short.
Insider Buying and Selling at SS&C Technologies
In other SS&C Technologies news, COO Rahul Kanwar sold 46,700 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $63.06, for a total transaction of $2,944,902.00. Following the sale, the chief operating officer now directly owns 50,000 shares in the company, valued at $3,153,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 14.60% of the company’s stock.
Institutional Trading of SS&C Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC raised its stake in SS&C Technologies by 723.8% in the 1st quarter. JFS Wealth Advisors LLC now owns 346 shares of the technology company’s stock worth $26,000 after acquiring an additional 304 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in SS&C Technologies in the 2nd quarter worth $26,000. Benjamin Edwards Inc. raised its stake in SS&C Technologies by 49.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 813 shares of the technology company’s stock worth $39,000 after acquiring an additional 268 shares during the last quarter. Tobam purchased a new position in SS&C Technologies in the 2nd quarter worth $40,000. Finally, Prospera Financial Services Inc purchased a new position in SS&C Technologies in the 1st quarter worth $44,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.
SS&C Technologies Stock Up 3.8 %
NASDAQ SSNC traded up $1.89 during midday trading on Friday, hitting $51.31. 2,486,459 shares of the company traded hands, compared to its average volume of 1,342,133. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $13.09 billion, a PE ratio of 19.66 and a beta of 1.47. The company’s 50-day simple moving average is $52.05 and its 200-day simple moving average is $58.60. SS&C Technologies has a 52 week low of $45.25 and a 52 week high of $84.85.
SS&C Technologies (NASDAQ:SSNC – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The technology company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.10). SS&C Technologies had a net margin of 13.85% and a return on equity of 19.61%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, equities research analysts forecast that SS&C Technologies will post 4.28 earnings per share for the current year.
SS&C Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. SS&C Technologies’s dividend payout ratio is presently 30.65%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SSNC shares. Morgan Stanley cut their target price on SS&C Technologies from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday. Credit Suisse Group cut their target price on SS&C Technologies from $78.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of SS&C Technologies in a research note on Monday, July 25th. DA Davidson cut their target price on SS&C Technologies from $92.00 to $82.00 in a research note on Thursday, July 28th. Finally, Piper Sandler dropped their price objective on SS&C Technologies from $89.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.27.
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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.
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Read More: SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Short Interest Update