SS&C Technologies (NASDAQ:SSNC) Shares Gap Up After Better-Than-Expected Earnings

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $81.80, but opened at $86.55. SS&C Technologies shares last traded at $86.69, with a volume of 779,529 shares trading hands.

The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s payout ratio is presently 35.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SSNC shares. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $70.00 to $94.00 in a report on Monday. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Raymond James boosted their target price on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a report on Monday. Finally, StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and an average price target of $85.75.

Insiders Place Their Bets

In other SS&C Technologies news, CEO William C. Stone sold 247,300 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 owns 6,412 shares of the company’s stock, valued at $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,000 shares of company stock worth $34,461,478 in the last quarter. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP grew its stake in shares of SS&C Technologies by 42.8% during the second quarter. Marshall Wace LLP now owns 8,741 shares of the technology company’s stock worth $548,000 after buying an additional 2,618 shares during the last quarter. Creative Planning grew its position in SS&C Technologies by 9.9% during the 2nd quarter. Creative Planning now owns 8,131 shares of the technology company’s stock worth $510,000 after acquiring an additional 735 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in SS&C Technologies by 285.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock worth $140,000 after acquiring an additional 1,657 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in SS&C Technologies by 183.9% in the second quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after purchasing an additional 6,624 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in SS&C Technologies by 19.0% in the third quarter. Park Avenue Securities LLC now owns 3,990 shares of the technology company’s stock valued at $296,000 after purchasing an additional 637 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 5.4 %

The stock has a 50 day moving average price of $77.51 and a 200 day moving average price of $74.84. 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 stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 30.90 and a beta of 1.38.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.