SS&C Technologies (NASDAQ:SSNC) Hits New 1-Year High – Here’s What Happened

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $76.95 and last traded at $76.40, with a volume of 26050 shares trading hands. The stock had previously closed at $76.66.

Analyst Ratings Changes

SSNC has been the subject of a number of research reports. DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC lifted their price target on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SS&C Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $73.75.

SS&C Technologies Stock Down 0.6 %

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $18.71 billion, a PE ratio of 27.88 and a beta of 1.38. The company’s 50 day moving average is $73.84 and its two-hundred day moving average is $67.15.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is presently 36.36%.

SS&C Technologies announced that its Board of Directors has initiated a stock buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 in the last quarter. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its position in shares of SS&C Technologies by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 36,559 shares of the technology company’s stock worth $2,234,000 after purchasing an additional 3,591 shares during the period. CWM LLC raised its stake in shares of SS&C Technologies by 13.9% during the 1st quarter. CWM LLC now owns 3,386 shares of the technology company’s stock worth $218,000 after acquiring an additional 413 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of SS&C Technologies by 15.0% in the 1st quarter. Park Avenue Securities LLC now owns 3,995 shares of the technology company’s stock worth $257,000 after purchasing an additional 520 shares in the last quarter. Running Oak Capital LLC increased its holdings in shares of SS&C Technologies by 12.9% in the first quarter. Running Oak Capital LLC now owns 157,007 shares of the technology company’s stock valued at $10,107,000 after purchasing an additional 17,980 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in SS&C Technologies by 17.6% in the first quarter. CHICAGO TRUST Co NA now owns 8,756 shares of the technology company’s stock valued at $564,000 after buying an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

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.