SS&C Technologies (NASDAQ:SSNC) Shares Gap Up After Earnings Beat

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) gapped up prior to trading on Friday following a stronger than expected earnings report. 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 changing hands.

The technology company reported $1.41 EPS for the quarter, topping the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Analyst Ratings Changes

Several research firms recently weighed in on SSNC. StockNews.com lowered 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 raised their price target on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James upped their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, UBS Group upped their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $88.25.

Insider Buying and Selling

In other news, CEO William C. Stone sold 247,300 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares in the company, 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 valued at $34,461,478 over the last quarter. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its position in shares of SS&C Technologies by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 13,658 shares of the technology company’s stock worth $1,035,000 after acquiring an additional 791 shares in the last quarter. Wealthfront Advisers LLC grew its position in SS&C Technologies by 850.3% during the 4th quarter. Wealthfront Advisers LLC now owns 191,429 shares of the technology company’s stock worth $14,506,000 after purchasing an additional 171,284 shares in the last quarter. River Road Asset Management LLC raised its stake in SS&C Technologies by 278.5% during the 4th quarter. River Road Asset Management LLC now owns 466,320 shares of the technology company’s stock valued at $35,338,000 after purchasing an additional 343,105 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of SS&C Technologies by 1.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,043 shares of the technology company’s stock valued at $3,034,000 after purchasing an additional 742 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SS&C Technologies by 158.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,766 shares of the technology company’s stock worth $8,924,000 after buying an additional 72,157 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Stock Up 6.0 %

The business has a fifty day moving average price of $77.51 and a two-hundred day moving average price of $74.84. The firm has a market cap of $21.48 billion, a PE ratio of 31.08 and a beta of 1.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

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.