SS&C Technologies (NASDAQ:SSNC) Hits New 12-Month High – What’s Next?

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $76.95 and last traded at $76.40, with a volume of 26050 shares trading hands. The stock had previously closed at $76.66.

Analyst Ratings Changes

SSNC has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada increased their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson reissued a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $18.82 billion, a PE ratio of 27.88 and a beta of 1.38. The company’s 50 day moving average price is $73.97 and its 200 day moving average price is $67.21.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $0.96 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.25 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.30%. SS&C Technologies’s dividend payout ratio (DPR) is 36.36%.

SS&C Technologies declared that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last three months. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in SS&C Technologies by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after buying an additional 18,878 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after purchasing an additional 100,197 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in SS&C Technologies by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SS&C Technologies in the 2nd quarter valued at approximately $1,661,000. Finally, Burgundy Asset Management Ltd. increased its position in SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the period. Institutional investors and hedge funds 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.