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

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

SS&C Technologies Stock Down 6.8 %

Shares of SS&C Technologies stock traded down $5.11 during trading hours on Friday, hitting $70.04. 5,279,583 shares of the company’s stock traded hands, compared to its average volume of 1,045,626. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $77.02. The company has a market cap of $17.32 billion, a PE ratio of 27.90 and a beta of 1.38. 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 stock has a 50 day simple moving average of $74.38 and a 200-day simple moving average of $67.79.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.43%. SS&C Technologies’s payout ratio is 39.84%.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SSNC. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price target on 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, Raymond James raised their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred 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 sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 609,690 shares of company stock valued at $44,821,055. Insiders own 15.40% of the company’s stock.

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.