SS&C Technologies (NASDAQ:SSNC) Shares Gap Down - Time to Sell?

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $75.15, but opened at $68.11. SS&C Technologies shares last traded at $70.00, with a volume of 1,208,553 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on SSNC. 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. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday. Raymond James boosted their target price on SS&C Technologies from $79.00 to $85.00 and gave the company a "strong-buy" rating in a report on Friday. Finally, Royal Bank of Canada raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

SS&C Technologies Trading Down 6.8 %

The company has a market cap of $17.32 billion, a PE ratio of 27.77 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock's 50 day moving average is $74.43 and its 200-day moving average is $67.66.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. As a group, sell-side analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

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

SS&C Technologies declared that its board has authorized a stock repurchase program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Normand A. Boulanger sold 130,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies 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 in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock valued at $44,821,055 in the last quarter. Corporate insiders own 15.40% of the company's stock.

Institutional Trading of SS&C Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC lifted its position in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company's stock valued at $25,000 after purchasing an additional 172 shares during the last quarter. Innealta Capital LLC purchased a new position in SS&C Technologies in the 2nd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. boosted its holdings in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock worth $42,000 after acquiring an additional 204 shares during the period. Finally, Versant Capital Management Inc grew its stake in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock worth $44,000 after buying an additional 693 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

SS&C Technologies Company Profile

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.