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

SS&C Technologies (NASDAQ:SSNC) announced 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. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $1.04 EPS. The firm’s revenue was up 7.3% on a year-over-year basis.

SS&C Technologies Stock Performance

SS&C Technologies stock traded down $5.11 during trading hours on Friday, hitting $70.04. The company had a trading volume of 5,279,583 shares, compared to its average volume of 1,045,626. The firm has a market cap of $17.32 billion, a PE ratio of 27.90 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. SS&C Technologies has a one year low of $46.61 and a one year high of $77.02. The firm has a 50-day moving average of $74.38 and a 200 day moving average of $67.79.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.43%. SS&C Technologies’s payout ratio is 39.84%.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the 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 sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock valued at $44,821,055 in the last three months. 15.40% of the stock is currently owned by company insiders.

SS&C Technologies announced that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSNC. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Raymond James boosted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday. Finally, 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

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.