SS&C Technologies (NASDAQ:SSNC) Shares Gap Down – What’s Next?

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) gapped down before the market opened on Friday . The stock had previously closed at $75.15, but opened at $68.11. SS&C Technologies shares last traded at $70.00, with a volume of 1,208,553 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SSNC. DA Davidson restated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada raised 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $74.43 and a 200 day moving average price of $67.66. The firm has a market capitalization of $17.29 billion, a PE ratio of 27.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. Research analysts expect that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is presently 39.84%.

SS&C Technologies declared that its Board of Directors has approved a stock 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 reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction 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 completion of the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 over the last 90 days. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of SS&C Technologies during the 1st quarter worth approximately $94,939,000. Millennium Management LLC lifted its position in SS&C Technologies by 49.2% in the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after acquiring an additional 1,120,961 shares during the last quarter. AQR Capital Management LLC boosted its stake in SS&C Technologies by 82.1% in the second quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares in the last quarter. Capital International Investors grew its holdings in shares of SS&C Technologies by 111.1% during the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock worth $68,975,000 after purchasing an additional 564,017 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of SS&C Technologies in the 1st quarter valued at about $31,305,000. 96.95% of the stock is owned by institutional investors and hedge funds.

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.