SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Director Normand A. Boulanger Sells 130,000 Shares

by · The Markets Daily

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Free Report) Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SS&C Technologies Price Performance

SSNC stock opened at $75.53 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $18.68 billion, a P/E ratio of 30.09 and a beta of 1.38. The business’s 50-day moving average is $71.03 and its two-hundred day moving average is $65.41. SS&C Technologies Holdings, Inc. has a 1 year low of $46.61 and a 1 year high of $75.86.

SS&C Technologies (NASDAQ:SSNC – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company 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%. SS&C Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued 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 dividend yield of 1.32%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is presently 39.84%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quent Capital LLC increased its holdings in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. ST Germain D J Co. Inc. purchased a new position in shares of SS&C Technologies in the 1st quarter valued at about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at about $35,000. Finally, Benjamin Edwards Inc. increased its holdings 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 valued at $42,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SSNC shares. Needham & Company LLC increased their target price on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. DA Davidson increased their target price on SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased their target price on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.75.

View Our Latest Stock Analysis on SS&C Technologies

SS&C Technologies Company Profile

(Get Free Report)

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.

Read More