SS&C Technologies (NASDAQ:SSNC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

SS&C Technologies (NASDAQ:SSNC) issued its quarterly earnings results on Thursday. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03, Briefing.com reports. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 EPS.

SS&C Technologies Price Performance

NASDAQ SSNC traded down $5.11 during trading on Friday, hitting $70.04. 5,279,583 shares of the stock traded hands, compared to its average volume of 1,045,626. The company has a market capitalization of $17.32 billion, a P/E ratio of 27.90 and a beta of 1.38. The firm has a 50-day simple moving average of $74.38 and a 200-day simple moving average of $67.79. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $77.02.

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 dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday. Raymond James lifted 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, 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 in the last quarter. 15.40% of the stock is owned by corporate insiders.

SS&C Technologies declared that its board has authorized a stock repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.