SS&C Technologies Holdings, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) declared a quarterly dividend on Wednesday, May 21st, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 0.25 per share by the technology company on Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, June 2nd.

SS&C Technologies has raised its dividend by an average of 13.0% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. SS&C Technologies has a payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SS&C Technologies to earn $6.08 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 16.4%.

SS&C Technologies Stock Down 0.3%

SS&C Technologies stock traded down $0.21 during trading on Wednesday, reaching $80.73. The stock had a trading volume of 807,745 shares, compared to its average volume of 1,313,581. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73. The stock has a market cap of $19.91 billion, a PE ratio of 26.91 and a beta of 1.24. The business has a 50 day moving average price of $78.09 and a 200 day moving average price of $79.28.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The company's revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. On average, analysts predict that SS&C Technologies will post 5.35 EPS for the current year.

Wall Street Analyst Weigh In

SSNC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Royal Bank of Canada upped their price target on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Raymond James cut their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a report on Friday, April 25th. Finally, UBS Group boosted their price objective 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 analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $91.86.

Insider Buying and Selling

In other news, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the transaction, the director now directly owns 12,476 shares in the company, valued at approximately $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan E. Michael purchased 2,700 shares of SS&C Technologies stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average price of $75.53 per share, with a total value of $203,931.00. Following the transaction, the director now owns 72,776 shares in the company, valued at $5,496,771.28. The trade was a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently made changes to their positions in the business. Focus Partners Wealth increased its position in SS&C Technologies by 35.1% in the 1st quarter. Focus Partners Wealth now owns 9,362 shares of the technology company's stock valued at $782,000 after acquiring an additional 2,431 shares during the period. NewEdge Advisors LLC grew its stake in shares of SS&C Technologies by 6,069.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company's stock valued at $216,000 after purchasing an additional 2,549 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of SS&C Technologies by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 690,340 shares of the technology company's stock valued at $57,664,000 after purchasing an additional 97,247 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of SS&C Technologies by 349.1% in the first quarter. Millennium Management LLC now owns 176,630 shares of the technology company's stock valued at $14,754,000 after purchasing an additional 137,301 shares during the period. Institutional investors and hedge funds own 96.95% of the company's stock.

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.