SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) to Issue Quarterly Dividend of $0.24

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) declared a quarterly dividend on Monday, May 20th, Zacks reports. Investors of record on Monday, June 3rd will be paid a dividend of 0.24 per share by the technology company on Monday, June 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, June 3rd.

SS&C Technologies has raised its dividend by an average of 18.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. SS&C Technologies has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect SS&C Technologies to earn $5.09 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 18.9%.

SS&C Technologies Stock Down 0.2 %

Shares of SSNC stock traded down $0.13 on Tuesday, reaching $63.33. 967,621 shares of the stock were exchanged, compared to its average volume of 967,709. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The business's 50 day moving average price is $62.56 and its 200 day moving average price is $60.71. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 25.23 and a beta of 1.42. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $65.86.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. As a group, sell-side analysts expect that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TheStreet upgraded shares of SS&C Technologies from a "c+" rating to a "b" rating in a research note on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. Needham & Company LLC upped their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, April 26th. UBS Group upped their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a "buy" rating in a report on Wednesday, February 14th. Finally, Truist Financial upped their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $70.20.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 5,000 shares of the company's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $63.14, for a total transaction of $315,700.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at $2,399,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.40% of the stock is currently owned by company insiders.

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.