Insider Selling: SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) CEO Sells 247,300 Shares of Stock

by · The Markets Daily

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Free Report) CEO William C. Stone sold 247,300 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SS&C Technologies Stock Down 0.9 %

Shares of SS&C Technologies stock traded down $0.66 during trading on Monday, hitting $75.46. The company’s stock had a trading volume of 1,512,515 shares, compared to its average volume of 1,086,464. The company has a fifty day simple moving average of $74.48 and a two-hundred day simple moving average of $70.38. SS&C Technologies Holdings, Inc. has a 52 week low of $57.23 and a 52 week high of $77.69. The company has a market capitalization of $18.69 billion, a PE ratio of 27.28 and a beta of 1.38. 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 (NASDAQ:SSNC – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. Equities research analysts predict that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. SS&C Technologies’s payout ratio is 35.84%.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in SS&C Technologies by 5.4% in the third quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock worth $1,191,774,000 after buying an additional 817,501 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of SS&C Technologies by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock valued at $488,746,000 after purchasing an additional 53,080 shares in the last quarter. State Street Corp grew its holdings in SS&C Technologies by 2.2% during the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after buying an additional 121,223 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after acquiring an additional 201,632 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of SS&C Technologies by 1.5% in the third quarter. FMR LLC now owns 3,984,057 shares of the technology company’s stock valued at $295,657,000 after purchasing an additional 58,389 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

SSNC has been the subject of several analyst reports. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Raymond James increased their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada increased their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.75.

Read Our Latest Research Report on SSNC

About SS&C Technologies

(Get Free Report)

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-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.

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