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

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) declared a quarterly dividend on Friday, May 23rd, Wall Street Journal reports. Shareholders of record on Monday, June 2nd will be given a dividend of 0.25 per share by the technology company on Monday, June 16th. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 2nd.

SS&C Technologies has increased its dividend payment by an average of 13.0% annually over the last three years and has increased its dividend every year for the last 9 years. SS&C Technologies has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of SSNC stock traded up $1.07 during mid-day trading on Friday, hitting $79.97. 631,986 shares of the stock were exchanged, compared to its average volume of 1,313,152. The stock's fifty day simple moving average is $78.25 and its two-hundred day simple moving average is $79.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies has a 12-month low of $60.01 and a 12-month high of $89.73. The stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of 26.66 and a beta of 1.24.

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

Insider Activity

In related news, Director Jonathan E. Michael bought 2,700 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the transaction, the director now owns 72,776 shares of the company's stock, valued at $5,496,771.28. This represents a 3.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now directly owns 23,200 shares of the company's stock, valued at approximately $2,050,648. This trade represents a 49.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On SS&C Technologies

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in SS&C Technologies by 16.4% in the 1st 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 in the last quarter. Millennium Management LLC grew its holdings in 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 last quarter. Focus Partners Wealth grew its holdings in SS&C Technologies by 35.1% in the first quarter. Focus Partners Wealth now owns 9,362 shares of the technology company's stock valued at $782,000 after purchasing an additional 2,431 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of SS&C Technologies by 6,069.0% in the first quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company's stock valued at $216,000 after buying an additional 2,549 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SSNC shares. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. UBS Group boosted their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Jefferies Financial Group raised SS&C Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. DA Davidson lowered their price objective on shares of SS&C Technologies from $100.00 to $94.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Raymond James cut their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $91.86.

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.

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