SS&C Technologies Holdings, Inc. Announces Quarterly Dividend of $0.25 (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.25 per share by the technology company on Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, December 2nd.

SS&C Technologies has raised its dividend payment by an average of 18.4% per year over the last three years. SS&C Technologies has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SS&C Technologies to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.0%.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded up $0.96 during midday trading on Friday, hitting $76.12. 1,344,922 shares of the company’s stock were exchanged, compared to its average volume of 1,085,938. 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 firm has a market capitalization of $18.85 billion, a PE ratio of 27.28 and a beta of 1.39. SS&C Technologies has a 12 month low of $55.33 and a 12 month high of $77.02. The company’s 50 day moving average price is $74.08 and its 200 day moving average price is $69.24.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SSNC. DA Davidson reaffirmed a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Finally, Raymond James lifted their price target on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.75.

Insider Activity

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. The trade was a 28.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.40% of the company’s stock.

SS&C Technologies declared that its Board of Directors has approved a stock buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.