SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the recipient of a significant growth in short interest in October. As of October 30th, there was short interest totalling 2,530,000 shares, a growth of 30.4% from the October 15th total of 1,940,000 shares. Approximately 1.1% of the company's stock are short sold. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 2.4 days.
A number of research firms have recently weighed in on SSNC. Raymond James upped their price target on shares of SS&C Technologies from $67.00 to $71.00 and gave the stock a "strong-buy" rating in a research note on Thursday, October 29th. Royal Bank of Canada reissued a "buy" rating and issued a $68.00 price objective on shares of SS&C Technologies in a research note on Thursday, July 30th. Rosenblatt Securities reissued a "buy" rating and issued a $64.00 price objective on shares of SS&C Technologies in a research note on Monday, July 27th. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Finally, Credit Suisse Group increased their price objective on shares of SS&C Technologies from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. SS&C Technologies presently has an average rating of "Buy" and a consensus target price of $69.00.
NASDAQ:SSNC opened at $68.16 on Friday. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 35.69 and a beta of 1.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29. The company's 50-day moving average is $63.73 and its two-hundred day moving average is $60.00. SS&C Technologies has a 12-month low of $29.51 and a 12-month high of $69.25.
SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Wednesday, October 28th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.99 by $0.11. SS&C Technologies had a net margin of 10.85% and a return on equity of 20.10%. On average, equities research analysts forecast that SS&C Technologies will post 3.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. SS&C Technologies's payout ratio is currently 15.47%.
In related news, Director Normand A. Boulanger sold 149,184 shares of SS&C Technologies stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $62.92, for a total value of $9,386,657.28. Following the completion of the transaction, the director now owns 280,816 shares in the company, valued at $17,668,942.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph J. Frank sold 1,629 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $61.00, for a total transaction of $99,369.00. Following the transaction, the senior vice president now owns 2,111 shares of the company's stock, valued at approximately $128,771. The disclosure for this sale can be found here. Insiders own 14.60% of the company's stock.
Hedge funds have recently made changes to their positions in the company. Ovata Capital Management Ltd purchased a new position in shares of SS&C Technologies during the 2nd quarter worth about $30,000. WASHINGTON TRUST Co purchased a new position in shares of SS&C Technologies during the 2nd quarter worth about $39,000. Virtus Alternative Investment Advisers Inc. purchased a new position in shares of SS&C Technologies during the 2nd quarter worth about $45,000. Signaturefd LLC lifted its holdings in shares of SS&C Technologies by 308.2% during the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the technology company's stock worth $56,000 after acquiring an additional 755 shares during the period. Finally, Cerebellum GP LLC purchased a new position in shares of SS&C Technologies during the 2nd quarter worth about $79,000. Institutional investors and hedge funds own 82.41% of the company's stock.
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-to-back-office operations, performance and risk analytics, regulatory reporting, and healthcare information processes.
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