SS&C Technologies (SSNC) to Release Quarterly Earnings on Thursday

SS&C Technologies (NASDAQ:SSNC) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.14 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. On average, analysts expect SS&C Technologies to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

SS&C Technologies Stock Down 0.9 %

Shares of NASDAQ:SSNC opened at $75.48 on Wednesday. The business’s 50 day moving average is $74.29 and its 200 day moving average is $67.55. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $77.02. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 27.45 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01.

SS&C Technologies announced that its Board of Directors has approved a stock buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s payout ratio is currently 36.36%.

Analysts Set New Price Targets

SSNC has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Needham & Company LLC upped their target price on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 19th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.75.

Insider Transactions at SS&C Technologies

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 stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now 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 this link. In other news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 in the last quarter. Insiders own 15.40% 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.