SS&C Technologies Holdings, Inc. Announces Quarterly Dividend of $0.25 (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.25 per share by the technology company on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd.

SS&C Technologies has increased its dividend payment by an average of 18.4% per year over the last three years. SS&C Technologies has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SS&C Technologies to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.0%.

SS&C Technologies Trading Up 1.3 %

SSNC stock traded up $0.96 during trading on Friday, hitting $76.12. The company had a trading volume of 1,344,922 shares, compared to its average volume of 1,085,938. The stock has a market cap of $18.85 billion, a price-to-earnings ratio of 27.28 and a beta of 1.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $74.08 and a 200-day moving average price of $69.24. SS&C Technologies has a 12 month low of $55.33 and a 12 month high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results 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. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. As a group, analysts predict that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies declared that its board has authorized a share buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James lifted their price objective on 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. Royal Bank of Canada boosted their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. DA Davidson reiterated a “buy” rating and issued 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.75.

Insider Buying and Selling

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

About SS&C Technologies

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.