SS&C Technologies (NASDAQ:SSNC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.27 and traded as high as $76.17. SS&C Technologies shares last traded at $76.05, with a volume of 934,494 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted 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 report on Thursday, September 19th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Raymond James increased their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Stock Performance

The stock’s 50-day moving average price is $75.00 and its 200-day moving average price is $72.34. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $18.84 billion, a P/E ratio of 27.26 and a beta of 1.37.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. As a group, equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

Insider Transactions at SS&C Technologies

In other news, CEO William C. Stone sold 132,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,446,744,613.10. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at $494,172.84. This represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 449,000 shares of company stock worth $34,461,478. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. SkyView Investment Advisors LLC increased its position in SS&C Technologies by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after acquiring an additional 137 shares during the period. Janney Montgomery Scott LLC grew its position in SS&C Technologies by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after purchasing an additional 196 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of SS&C Technologies by 2.9% during the 3rd quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after purchasing an additional 198 shares during the period. Summit Trail Advisors LLC raised its position in shares of SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after buying an additional 203 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares during the period. Institutional investors own 96.95% 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.