SS&C Technologies (NASDAQ:SSNC) Releases Earnings Results, Beats Estimates By $0.03 EPS

SS&C Technologies (NASDAQ:SSNC - Get Free Report) released its quarterly earnings data on Thursday. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03, Briefing.com reports. 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 12.33% and a return on equity of 17.43%. SS&C Technologies's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $1.04 earnings per share.

SS&C Technologies Stock Down 6.8 %

NASDAQ:SSNC traded down $5.11 during midday trading on Friday, reaching $70.04. The company had a trading volume of 5,279,583 shares, compared to its average volume of 1,045,626. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $77.02. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock's fifty day simple moving average is $74.38 and its 200-day simple moving average is $67.79.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is an increase from SS&C Technologies's previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. SS&C Technologies's payout ratio is 39.84%.

SS&C Technologies announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday. Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. DA Davidson reiterated a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Raymond James boosted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a "strong-buy" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares of the company's stock, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 in the last quarter. 15.40% of the stock is owned by company insiders.

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.