SS&C Technologies (NASDAQ:SSNC) Reaches New 12-Month High – Here’s Why

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s share price hit a new 52-week high on Tuesday . The company traded as high as $79.63 and last traded at $79.49, with a volume of 194901 shares traded. The stock had previously closed at $78.50.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James upped their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. Finally, DA Davidson restated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

The company has a market cap of $19.71 billion, a PE ratio of 28.52 and a beta of 1.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s 50 day moving average is $76.37 and its 200-day moving average is $73.73.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the company earned $1.04 EPS. SS&C Technologies’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.26%. SS&C Technologies’s dividend payout ratio is presently 35.84%.

Insider Activity

In other news, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. This represents a 91.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,000 shares of company stock valued at $34,461,478 in the last 90 days. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in shares of SS&C Technologies by 26.4% in the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after acquiring an additional 6,721 shares during the last quarter. State Street Corp lifted its holdings in SS&C Technologies by 2.2% during the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock worth $417,370,000 after buying an additional 121,223 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in SS&C Technologies by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock worth $25,034,000 after buying an additional 11,077 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in SS&C Technologies during the 4th quarter worth approximately $5,578,000. Finally, Meyer Handelman Co. raised its holdings in shares of SS&C Technologies by 13.0% in the 4th quarter. Meyer Handelman Co. now owns 74,680 shares of the technology company’s stock valued at $5,659,000 after purchasing an additional 8,588 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

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.