SS&C Technologies (NASDAQ:SSNC) Hits New 1-Year High - Here's Why

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $78.10 and last traded at $77.94, with a volume of 47144 shares changing hands. The stock had previously closed at $77.12.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. 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, October 25th. DA Davidson reissued a "buy" rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com downgraded SS&C Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 15th. Finally, Raymond James raised 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, October 25th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.75.

SS&C Technologies Trading Up 1.7 %

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The business's 50 day moving average price is $75.73 and its 200-day moving average price is $73.07. The firm has a market cap of $19.42 billion, a price-to-earnings ratio of 28.10 and a beta of 1.37.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced 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. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. SS&C Technologies's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 35.84%.

Insiders Place Their Bets

In other news, SVP Jason Douglas White sold 69,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction 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 approximately $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William C. Stone sold 132,700 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,446,744,613.10. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,000 shares of company stock valued at $34,461,478 over the last three months. Company insiders own 15.40% of the company's stock.

Institutional Trading of SS&C Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in SS&C Technologies during the second quarter worth about $35,000. Benjamin Edwards Inc. grew its stake in shares of 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 purchasing an additional 204 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of SS&C Technologies in the 3rd quarter worth approximately $68,000. Versant Capital Management Inc lifted its stake in SS&C Technologies by 32.5% during the fourth quarter. Versant Capital Management Inc now owns 949 shares of the technology company's stock valued at $72,000 after purchasing an additional 233 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in SS&C Technologies during the third quarter worth approximately $73,000. 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.