SS&C Technologies (NASDAQ:SSNC) Reaches New 1-Year High – Here’s What Happened

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high on Monday . The stock traded as high as $77.16 and last traded at $76.87, with a volume of 59347 shares traded. The stock had previously closed at $76.12.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SSNC shares. DA Davidson reissued a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Finally, Raymond James boosted 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 note on Friday, October 25th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Trading Up 1.3 %

The company’s fifty day moving average price is $74.11 and its 200-day moving average price is $69.42. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 27.28 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

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

SS&C Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.30%. SS&C Technologies’s payout ratio is presently 35.84%.

Insider Buying and Selling

In related news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. The trade was a 28.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 45.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

A number of hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new position in SS&C Technologies in the first quarter valued at approximately $94,939,000. Millennium Management LLC increased its holdings in shares of SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after purchasing an additional 1,120,961 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of SS&C Technologies by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock valued at $1,191,774,000 after purchasing an additional 817,501 shares during the period. AQR Capital Management LLC boosted its holdings in SS&C Technologies by 82.1% during the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock worth $78,900,000 after buying an additional 571,334 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in SS&C Technologies by 250.9% during the third quarter. Point72 Asset Management L.P. now owns 593,700 shares of the technology company’s stock valued at $44,058,000 after buying an additional 424,487 shares during the period. Hedge funds and other institutional investors own 96.95% 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.