SS&C Technologies (NASDAQ:SSNC) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Trading volume surged 113% to 4.53 million shares, compared with an average daily volume of about 2.13 million; SS&C shares last traded at $80.37.
• Analyst sentiment was mixed but averaged to a “Moderate Buy”, with a consensus price target of $96.57. Needham raised its target to $105 and DA Davidson to $104, while JPMorgan cut its target to $87 and Zacks downgraded the stock to “Strong Sell.”
• SS&C reported quarterly EPS of $1.78, narrowly beating estimates, while revenue rose 7.7% year over year to $1.69 billion. The company increased its quarterly dividend from $0.27 to $0.30 per share.

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) saw strong trading volume on Thursday. 4,528,704 shares were traded during trading, an increase of 113% from the average daily volume of 2,126,168 shares. The stock last traded at $80.3710 and had previously closed at $79.57.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SSNC. Needham & Company LLC lifted their price target on SS&C Technologies from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Weiss Ratings raised SS&C Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 25th. JPMorgan Chase & Co. dropped their price target on shares of SS&C Technologies from $94.00 to $87.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Zacks Research cut SS&C Technologies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Finally, DA Davidson increased their price target on shares of SS&C Technologies from $96.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, SS&C Technologies presently has an average rating of "Moderate Buy" and an average target price of $96.57.

SS&C Technologies Stock Down 1.3%

The company has a market capitalization of $18.44 billion, a PE ratio of 22.58 and a beta of 1.04. The company's fifty day moving average is $81.22 and its 200-day moving average is $74.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.06 and a current ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.01. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. SS&C Technologies's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that SS&C Technologies Holdings, Inc. will post 6.30 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.30 per share. This is a boost from SS&C Technologies's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. SS&C Technologies's dividend payout ratio is presently 34.48%.

Institutional Trading of SS&C Technologies

Several hedge funds have recently modified their holdings of the company. ZWJ Investment Counsel Inc. increased its position in shares of SS&C Technologies by 6.7% in the third quarter. ZWJ Investment Counsel Inc. now owns 495,122 shares of the technology company's stock worth $38,159,000 after purchasing an additional 30,907 shares during the last quarter. Andra AP fonden lifted its position in SS&C Technologies by 56.9% during the second quarter. Andra AP fonden now owns 331,000 shares of the technology company's stock valued at $20,539,000 after purchasing an additional 120,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SS&C Technologies during the second quarter valued at approximately $15,709,000. GSA Capital Partners LLP bought a new stake in SS&C Technologies during the second quarter valued at approximately $1,380,000. Finally, Deutsche Bank AG purchased a new position in SS&C Technologies in the 2nd quarter worth approximately $49,838,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.