SS&C Technologies (NASDAQ:SSNC) Reaches New 52-Week High – Here’s Why

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $77.94 and last traded at $77.94, with a volume of 299 shares trading hands. The stock had previously closed at $76.94.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SSNC shares. StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Raymond James raised their price target 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $19.30 billion, a P/E ratio of 27.94 and a beta of 1.38. The business has a 50-day moving average of $74.89 and a 200-day moving average of $71.66.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. On average, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors 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 1.28%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is presently 35.84%.

Insider Buying and Selling at SS&C Technologies

In other news, CEO William C. Stone sold 132,700 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total value of $10,197,995.00. Following the transaction, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,446,744,613.10. The trade was a 0.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason Douglas White sold 69,000 shares of the 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 sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 449,000 shares of company stock valued at $34,461,478. Company insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SSNC. Janus Henderson Group PLC grew its stake in shares of 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 worth $1,191,774,000 after acquiring an additional 817,501 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in SS&C Technologies by 0.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after acquiring an additional 53,080 shares during the period. State Street Corp grew its stake in SS&C Technologies by 2.2% during 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. Burgundy Asset Management Ltd. increased its holdings in shares of SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares during the period. Finally, FMR LLC raised its stake in shares of SS&C Technologies by 1.5% in the third quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock worth $295,657,000 after purchasing an additional 58,389 shares during the last quarter. Hedge funds and other institutional investors own 96.95% 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.