SS&C Technologies (NASDAQ:SSNC) Releases Earnings Results, Beats Expectations By $0.03 EPS

SS&C Technologies (NASDAQ:SSNC) released its quarterly earnings results on Thursday. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03, Briefing.com reports. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS.

SS&C Technologies Stock Down 6.8 %

SSNC traded down $5.11 during trading hours on Friday, reaching $70.04. 5,279,583 shares of the stock traded hands, compared to its average volume of 1,045,626. The firm’s fifty day simple moving average is $74.38 and its two-hundred day simple moving average is $67.79. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $77.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.43%. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies announced that its board has authorized a share buyback plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SSNC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday. DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Raymond James boosted their target price 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. Finally, Royal Bank of Canada upped their target price 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. 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 is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 609,690 shares of company stock valued at $44,821,055. Corporate insiders own 15.40% 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.