Russell Investments Group Ltd. Sells 29,283 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Russell Investments Group Ltd. cut its position in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 389,675 shares of the technology company’s stock after selling 29,283 shares during the period. Russell Investments Group Ltd. owned about 0.16% of SS&C Technologies worth $23,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Advisor Networks LLC raised its position in shares of SS&C Technologies by 1.7% in the 2nd quarter. Cetera Advisor Networks LLC now owns 11,151 shares of the technology company’s stock worth $676,000 after acquiring an additional 189 shares in the last quarter. Burney Co. raised its position in shares of SS&C Technologies by 107.3% in the 2nd quarter. Burney Co. now owns 65,139 shares of the technology company’s stock worth $3,947,000 after acquiring an additional 33,716 shares in the last quarter. Cantillon Capital Management LLC raised its position in shares of SS&C Technologies by 6.3% in the 2nd quarter. Cantillon Capital Management LLC now owns 5,118,828 shares of the technology company’s stock worth $310,201,000 after acquiring an additional 304,968 shares in the last quarter. BNP Paribas Arbitrage SNC raised its position in shares of SS&C Technologies by 83.8% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 99,578 shares of the technology company’s stock worth $6,034,000 after acquiring an additional 45,406 shares in the last quarter. Finally, Andra AP fonden raised its position in shares of SS&C Technologies by 14.6% in the 2nd quarter. Andra AP fonden now owns 178,800 shares of the technology company’s stock worth $10,835,000 after acquiring an additional 22,800 shares in the last quarter. 82.17% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Normand A. Boulanger sold 20,000 shares of SS&C Technologies stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $55.19, for a total value of $1,103,800.00. Following the completion of the sale, the director now directly owns 380,000 shares of the company’s stock, valued at $20,972,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Normand A. Boulanger sold 20,000 shares of SS&C Technologies stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $55.19, for a total value of $1,103,800.00. Following the completion of the transaction, the director now directly owns 380,000 shares in the company, valued at $20,972,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Rahul Kanwar sold 140,000 shares of SS&C Technologies stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total value of $7,946,400.00. Following the completion of the transaction, the chief operating officer now owns 50,000 shares of the company’s stock, valued at $2,838,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,000 shares of company stock valued at $12,353,800. 14.60% of the stock is currently owned by corporate insiders.

SS&C Technologies Price Performance

SSNC stock opened at $55.12 on Tuesday. The business has a fifty day moving average of $52.46 and a two-hundred day moving average of $55.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.09. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 22.78 and a beta of 1.41. SS&C Technologies Holdings, Inc. has a 52-week low of $46.61 and a 52-week high of $64.52.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 26th. The technology company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. SS&C Technologies had a return on equity of 16.77% and a net margin of 11.42%. As a group, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.15 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. SS&C Technologies’s payout ratio is presently 39.67%.

Analyst Ratings Changes

SSNC has been the topic of several research analyst reports. UBS Group started coverage on SS&C Technologies in a research note on Tuesday, November 7th. They set a “buy” rating and a $72.00 target price on the stock. Needham & Company LLC lowered their price target on SS&C Technologies from $71.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 9th. TheStreet downgraded SS&C Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, September 13th. Finally, DA Davidson reduced their price objective on SS&C Technologies from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies presently has a consensus rating of “Buy” and a consensus target price of $66.33.

SS&C Technologies 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 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.