SS&C Technologies (NASDAQ:SSNC) Reaches New 52-Week High – Still a Buy?

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $77.16 and last traded at $76.87, with a volume of 59347 shares traded. The stock had previously closed at $76.12.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SSNC. Raymond James increased their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Price Performance

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 company has a fifty day moving average of $74.13 and a 200 day moving average of $69.52. The firm has a market capitalization of $19.10 billion, a P/E ratio of 27.63 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company 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 12.26% and a return on equity of 17.33%. SS&C Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share. Sell-side analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

Insider Activity

In related 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 transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This represents a 28.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s 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 completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SSNC. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the second quarter worth $35,000. Benjamin Edwards Inc. raised its position in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc lifted 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 valued at $44,000 after acquiring an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in SS&C Technologies during the 2nd quarter worth $47,000. Institutional investors and hedge funds 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.