Payden & Rygel Invests $7.50 Million in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Payden & Rygel purchased a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 99,000 shares of the technology company’s stock, valued at approximately $7,503,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of SS&C Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 20,215,026 shares of the technology company’s stock worth $1,531,895,000 after buying an additional 239,438 shares during the period. State Street Corp lifted its position in shares of SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after acquiring an additional 121,223 shares in the last quarter. Boston Partners boosted its stake in SS&C Technologies by 283.1% in the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after purchasing an additional 3,901,227 shares during the period. Cantillon Capital Management LLC grew its position in SS&C Technologies by 0.6% during the 4th quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company’s stock worth $343,517,000 after purchasing an additional 25,895 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in SS&C Technologies by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,022 shares of the technology company’s stock valued at $268,075,000 after purchasing an additional 64,299 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the transaction, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This trade represents a 91.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company’s stock, valued at approximately $2,050,648. This represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Price Performance

NASDAQ SSNC opened at $74.35 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $18.33 billion, a PE ratio of 24.78 and a beta of 1.36. SS&C Technologies Holdings, Inc. has a 12-month low of $59.63 and a 12-month high of $89.73. The company has a 50 day moving average price of $84.27 and a two-hundred day moving average price of $78.45.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. As a group, equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $94.00 in a report on Monday, February 3rd. Raymond James upped their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. Needham & Company LLC raised their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. DA Davidson upped their price objective on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies has an average rating of “Buy” and an average price target of $97.50.

SS&C Technologies Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.