Rahul Kanwar Sells 140,000 Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Stock

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) COO Rahul Kanwar sold 140,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total transaction of $7,946,400.00. Following the completion of the transaction, the chief operating officer now directly owns 50,000 shares in the company, valued at $2,838,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SS&C Technologies Stock Up 0.2 %

NASDAQ SSNC opened at $57.53 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. SS&C Technologies Holdings, Inc. has a 1-year low of $45.25 and a 1-year high of $64.52. The company has a 50 day moving average of $58.53 and a 200-day moving average of $57.52. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 23.77 and a beta of 1.42.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.05). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. SS&C Technologies had a net margin of 11.59% and a return on equity of 17.56%. On average, equities research analysts expect that SS&C Technologies Holdings, Inc. will post 4.2 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.67%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 31st. SS&C Technologies’s dividend payout ratio (DPR) is 39.67%.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several research analyst reports. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Raymond James lowered their price target on shares of SS&C Technologies from $74.00 to $71.00 in a report on Friday, July 28th. Credit Suisse Group increased their price target on shares of SS&C Technologies from $83.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $71.00 price target on shares of SS&C Technologies in a report on Friday, July 28th. Finally, DA Davidson decreased their target price on shares of SS&C Technologies from $74.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SSNC. IFP Advisors Inc increased its stake in SS&C Technologies by 136.1% in the second quarter. IFP Advisors Inc now owns 477 shares of the technology company’s stock valued at $26,000 after acquiring an additional 275 shares during the last quarter. KB Financial Partners LLC bought a new stake in shares of SS&C Technologies during the first quarter worth $26,000. Ellevest Inc. grew its stake in shares of SS&C Technologies by 165.8% during the first quarter. Ellevest Inc. now owns 497 shares of the technology company’s stock worth $28,000 after buying an additional 310 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of SS&C Technologies by 364.3% during the first quarter. Harbour Investments Inc. now owns 520 shares of the technology company’s stock worth $29,000 after buying an additional 408 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new stake in shares of SS&C Technologies during the first quarter worth $32,000. 82.17% of the stock is owned by institutional investors.

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.