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

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

Analyst Ratings Changes

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

SS&C Technologies Trading Up 1.3 %

The company has a 50 day simple moving average of $74.89 and a 200 day simple moving average of $71.66. 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 stock has a market capitalization of $19.30 billion, a PE ratio of 27.94 and a beta of 1.38.

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 the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

Insider Transactions at SS&C Technologies

In related news, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the firm’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 of the company’s stock, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,000 shares of company stock valued at $34,461,478. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSNC. Toronto Dominion Bank increased its holdings in SS&C Technologies by 26.4% during the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after acquiring an additional 6,721 shares in the last quarter. State Street Corp grew its position in shares of SS&C Technologies by 2.2% in 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 last quarter. National Pension Service increased its stake in shares of SS&C Technologies by 5.4% during the 3rd quarter. National Pension Service now owns 530,166 shares of the technology company’s stock worth $39,344,000 after purchasing an additional 27,336 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of SS&C Technologies by 64.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 172,712 shares of the technology company’s stock worth $12,817,000 after purchasing an additional 67,915 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of SS&C Technologies during the 2nd quarter worth approximately $1,661,000. Hedge funds and other 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.