SS&C Technologies (NASDAQ:SSNC) Releases Earnings Results, Beats Estimates By $0.07 EPS

SS&C Technologies (NASDAQ:SSNC) issued its quarterly earnings results on Thursday. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07, Briefing.com reports. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned $0.96 earnings per share. SS&C Technologies’s revenue was up 6.5% on a year-over-year basis.

SS&C Technologies Trading Up 6.3 %

Shares of SSNC stock traded up $4.27 during mid-day trading on Friday, reaching $72.29. 2,959,802 shares of the stock traded hands, compared to its average volume of 867,725. The stock’s fifty day simple moving average is $63.27 and its two-hundred day simple moving average is $62.60. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $73.30. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 28.80 and a beta of 1.38. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s payout ratio is 38.25%.

Insider Activity

In other news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.94, for a total transaction of $639,400.00. Following the sale, the director now directly owns 38,000 shares of the company’s stock, valued at $2,429,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 32,500 shares of company stock valued at $2,027,750. 15.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SSNC. DA Davidson raised their price target on SS&C Technologies from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their price target on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Needham & Company LLC raised their price target on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their target price on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SS&C Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.