SS&C Technologies (NASDAQ:SSNC) Announces Earnings Results

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

SS&C Technologies Price Performance

Shares of SS&C Technologies stock traded down $5.11 on Friday, reaching $70.04. The stock had a trading volume of 5,279,583 shares, compared to its average volume of 1,045,626. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $77.02. The company has a market cap of $17.32 billion, a P/E ratio of 27.90 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $74.38 and its two-hundred day moving average is $67.79.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. 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. SS&C Technologies’s dividend payout ratio is presently 39.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James lifted their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday. Royal Bank of Canada boosted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by corporate insiders.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.