SS&C Technologies (NASDAQ:SSNC) Hits New 1-Year High at $74.99

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $74.99 and last traded at $74.95, with a volume of 180535 shares traded. The stock had previously closed at $74.24.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson upped their price objective on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.75.

SS&C Technologies Trading Up 1.3 %

The stock has a market capitalization of $18.43 billion, a P/E ratio of 29.92 and a beta of 1.38. The stock’s fifty day moving average price is $68.56 and its 200 day moving average price is $64.61. 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 (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. SS&C Technologies’s payout ratio is 38.25%.

Insider Transactions at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction 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 sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 468,190 shares of company stock valued at $34,031,675. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of SS&C Technologies

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in SS&C Technologies by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 344,152 shares of the technology company’s stock valued at $21,031,000 after acquiring an additional 8,826 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of SS&C Technologies by 16.4% in the 4th quarter. Van ECK Associates Corp now owns 56,017 shares of the technology company’s stock worth $3,423,000 after purchasing an additional 7,875 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in SS&C Technologies by 17.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,662 shares of the technology company’s stock worth $590,000 after buying an additional 1,428 shares during the last quarter. Victory Capital Management Inc. increased its position in SS&C Technologies by 20.0% during the 4th quarter. Victory Capital Management Inc. now owns 197,214 shares of the technology company’s stock valued at $12,052,000 after buying an additional 32,859 shares in the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in SS&C Technologies in the fourth quarter valued at about $246,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

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.