SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Raises Dividend to $1.08 Per Share

Key Points

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SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 1.08 per share by the technology company on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.0%. This is a 332.0% increase from SS&C Technologies's previous quarterly dividend of $0.25.

SS&C Technologies has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.1%

Shares of SSNC stock opened at $86.91 on Tuesday. SS&C Technologies has a 1 year low of $66.83 and a 1 year high of $89.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The business's fifty day moving average is $83.48 and its 200-day moving average is $81.90. The stock has a market cap of $21.23 billion, a PE ratio of 27.24 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSNC. JPMorgan Chase & Co. increased their price target on SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. DA Davidson raised their target price on shares of SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Needham & Company LLC lifted their target price on shares of SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial upped their price target on shares of SS&C Technologies from $90.00 to $95.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. Finally, UBS Group lifted their price objective on shares of SS&C Technologies from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $97.13.

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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