SS&C Technologies (NASDAQ:SSNC) Sets New 52-Week High – Here’s What Happened

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price reached 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 changing hands. The stock had previously closed at $79.98.

Analyst Upgrades and Downgrades

SSNC has been the subject of a number of recent research reports. Raymond James lifted their price objective 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. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Up 0.3 %

The business has a 50-day moving average price of $76.51 and a 200-day moving average price of $74.03. The stock has a market cap of $19.87 billion, a PE ratio of 28.75 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The business 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 revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

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

Insider Buying and Selling at SS&C Technologies

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

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors have recently added to or reduced their stakes in SSNC. CENTRAL TRUST Co acquired a new position in SS&C Technologies in the 4th quarter valued at about $65,000. Capital Performance Advisors LLP acquired a new position in SS&C Technologies in the third quarter valued at approximately $68,000. Versant Capital Management Inc grew its position in SS&C Technologies by 32.5% in the fourth quarter. Versant Capital Management Inc now owns 949 shares of the technology company’s stock worth $72,000 after acquiring an additional 233 shares during the period. Brooklyn Investment Group acquired a new stake in SS&C Technologies during the third quarter worth $73,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in SS&C Technologies during the third quarter worth $89,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.