SS&C Technologies (NASDAQ:SSNC – Get Free Report) 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%.
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.
View Our Latest Analysis on SSNC
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.
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