SS&C Technologies (NASDAQ:SSNC) Hits New 52-Week High – Time to Buy?

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) shares reached a new 52-week high on Monday . The stock traded as high as $77.16 and last traded at $76.87, with a volume of 59347 shares changing hands. The stock had previously closed at $76.12.

Analyst Ratings Changes

A number of research firms have recently issued reports on SSNC. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. 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. Raymond James lifted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

The firm’s 50 day simple moving average is $74.11 and its 200 day simple moving average is $69.42. The firm has a market cap of $19.11 billion, a PE ratio of 27.28 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

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 analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.30%. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction 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 sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 45.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The trade was a 28.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. SkyView Investment Advisors LLC increased its stake in SS&C Technologies by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after purchasing an additional 137 shares during the period. Janney Montgomery Scott LLC increased its stake in SS&C Technologies by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after buying an additional 196 shares during the period. Tectonic Advisors LLC lifted its holdings in SS&C Technologies by 2.9% during the 3rd quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock valued at $524,000 after buying an additional 198 shares in the last quarter. Summit Trail Advisors LLC boosted its position in SS&C Technologies by 2.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after buying an additional 203 shares during the period. Finally, Benjamin Edwards Inc. increased its position in shares of SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after acquiring an additional 204 shares during the period. 96.95% of the stock is currently 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.