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

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $79.63 and last traded at $79.49, with a volume of 194901 shares traded. The stock had previously closed at $78.50.

Analyst Ratings Changes

SSNC has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. 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. Raymond James lifted their price target on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Two research 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 company has an average rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Down 0.1 %

The company’s 50 day moving average price is $76.37 and its two-hundred day moving average price is $73.73. 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 stock has a market cap of $19.71 billion, a P/E ratio of 28.52 and a beta of 1.37.

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

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

Insider Activity at SS&C Technologies

In related news, CEO William C. Stone sold 247,300 shares of SS&C Technologies stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,000 shares of company stock valued at $34,461,478 over the last ninety days. 15.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in SS&C Technologies by 5.4% during the third quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock valued at $1,191,774,000 after purchasing an additional 817,501 shares during the period. State Street Corp lifted its position in SS&C Technologies by 2.2% during the third 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 period. FMR LLC lifted its position in SS&C Technologies by 1.5% during the third quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock valued at $295,657,000 after purchasing an additional 58,389 shares during the period. Geode Capital Management LLC lifted its position in SS&C Technologies by 1.8% during the third quarter. Geode Capital Management LLC now owns 3,621,022 shares of the technology company’s stock valued at $268,075,000 after purchasing an additional 64,299 shares during the period. Finally, Millennium Management LLC lifted its position in SS&C Technologies by 49.2% during the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock valued at $213,070,000 after purchasing an additional 1,120,961 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

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.