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

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $89.50 and last traded at $89.30, with a volume of 272661 shares trading hands. The stock had previously closed at $88.34.

Analysts Set New Price Targets

Several equities analysts have issued reports on SSNC shares. Needham & Company LLC lifted their target price on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. DA Davidson boosted their price objective on SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Monday, February 10th. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Finally, UBS Group lifted their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and an average target price of $97.50.

SS&C Technologies Trading Down 0.2 %

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 firm has a market cap of $21.83 billion, a PE ratio of 29.38 and a beta of 1.38. The company’s 50 day moving average price is $80.83 and its 200 day moving average price is $76.63.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. As a group, analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. SS&C Technologies’s payout ratio is currently 33.33%.

Insider Activity

In related news, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This represents a 91.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William C. Stone sold 132,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 451,000 shares of company stock worth $35,459,808. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in shares of SS&C Technologies by 7,320.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,226 shares of the technology company’s stock valued at $165,000 after acquiring an additional 2,196 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of SS&C Technologies in the third quarter valued at approximately $213,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SS&C Technologies by 49.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,865 shares of the technology company’s stock worth $951,000 after purchasing an additional 4,262 shares during the last quarter. Forsta AP Fonden boosted its stake in SS&C Technologies by 26.8% in the 3rd quarter. Forsta AP Fonden now owns 39,800 shares of the technology company’s stock worth $2,954,000 after buying an additional 8,400 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in SS&C Technologies by 95.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,353 shares of the technology company’s stock valued at $917,000 after buying an additional 6,027 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 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.