Progeny 3 Inc. Grows Stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

Progeny 3 Inc. raised its stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 781,600 shares of the technology company’s stock after purchasing an additional 30,000 shares during the quarter. SS&C Technologies makes up about 4.9% of Progeny 3 Inc.’s portfolio, making the stock its 7th biggest holding. Progeny 3 Inc.’s holdings in SS&C Technologies were worth $58,003,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other SS&C Technologies news, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,000 shares of company stock worth $16,560,660 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $77.34 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. SS&C Technologies Holdings, Inc. has a 12-month low of $55.63 and a 12-month high of $77.69. The firm has a 50-day moving average price of $74.22 and a two-hundred day moving average price of $69.73. The company has a market capitalization of $19.16 billion, a P/E ratio of 27.72 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. SS&C Technologies’s payout ratio is 35.84%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SSNC shares. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, Raymond James upped their price target on shares of 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Company 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 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.