SS&C Technologies (NASDAQ:SSNC) Reaches New 12-Month High – Here’s What Happened

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during trading on Monday . The stock traded as high as $80.73 and last traded at $80.46, with a volume of 588443 shares. The stock had previously closed at $79.98.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Finally, Raymond James raised their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Performance

The stock has a market capitalization of $19.87 billion, a P/E ratio of 28.76 and a beta of 1.37. The company’s fifty day simple moving average is $76.94 and its two-hundred day simple moving average is $74.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insider Buying and Selling at SS&C Technologies

In other news, CEO William C. Stone sold 247,300 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now owns 6,412 shares in the company, valued at $494,172.84. This represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock valued at $34,461,478 in the last quarter. Company insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank lifted its holdings in shares of SS&C Technologies by 26.4% in the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after acquiring an additional 6,721 shares during the last quarter. State Street Corp lifted its stake in SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after purchasing an additional 121,223 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of SS&C Technologies by 3.5% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock worth $25,034,000 after buying an additional 11,077 shares during the last quarter. Benson Investment Management Company Inc. acquired a new position in shares of SS&C Technologies during the fourth quarter worth $5,578,000. Finally, Meyer Handelman Co. lifted its stake in shares of SS&C Technologies by 13.0% in the 4th quarter. Meyer Handelman Co. now owns 74,680 shares of the technology company’s stock valued at $5,659,000 after acquiring an additional 8,588 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.