SS&C Technologies (NASDAQ:SSNC) Announces Earnings Results, Beats Expectations By $0.07 EPS

SS&C Technologies (NASDAQ:SSNC) posted its earnings results on Thursday. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07, Briefing.com reports. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.52%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS.

SS&C Technologies Stock Up 6.3 %

Shares of SS&C Technologies stock traded up $4.27 on Friday, hitting $72.29. 2,959,802 shares of the company’s stock traded hands, compared to its average volume of 867,725. The stock has a market cap of $17.88 billion, a P/E ratio of 28.80 and a beta of 1.38. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average is $63.27 and its 200 day moving average is $62.60. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $73.30.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is currently 38.25%.

Analysts Set New Price Targets

SSNC has been the subject of a number of research analyst reports. DA Davidson increased their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Needham & Company LLC increased their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Activity

In other news, Director Michael Jay Zamkow sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $63.94, for a total transaction of $639,400.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $2,429,720. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 32,500 shares of company stock worth $2,027,750. 15.40% of the stock is currently owned by insiders.

SS&C Technologies Company Profile

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.