SS&C Technologies (NASDAQ:SSNC) Hits New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

SSNC has been the subject of a number of recent analyst reports. Raymond James upped 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 research report on Friday, October 25th. DA Davidson reaffirmed a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. 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. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

The company has a 50-day simple moving average of $75.73 and a two-hundred day simple moving average of $73.07. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $19.29 billion, a PE ratio of 27.91 and a beta of 1.37.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm earned $1.04 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors 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 is currently 35.84%.

Insider Transactions at SS&C Technologies

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 completion of the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the transaction, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 449,000 shares of company stock worth $34,461,478. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SSNC. Acadian Asset Management LLC purchased a new position in shares of SS&C Technologies during the 2nd quarter valued at about $811,000. Ashton Thomas Private Wealth LLC purchased a new position in SS&C Technologies in the 2nd quarter worth approximately $35,000. Choreo LLC bought a new stake in SS&C Technologies in the 2nd quarter worth approximately $391,000. American Century Companies Inc. increased its stake in SS&C Technologies by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 16,245 shares of the technology company’s stock worth $1,018,000 after acquiring an additional 1,460 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in SS&C Technologies by 1.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 59,035 shares of the technology company’s stock worth $3,670,000 after acquiring an additional 570 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

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.