SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Free Report) announced a quarterly dividend on Thursday, November 16th, Zacks reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.24 per share by the technology company on Friday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, November 30th.
SS&C Technologies has increased its dividend payment by an average of 23.5% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. SS&C Technologies has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SS&C Technologies to earn $4.62 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 20.8%.
SS&C Technologies Stock Up 0.4 %
SSNC stock opened at $55.00 on Friday. The stock has a market capitalization of $13.61 billion, a P/E ratio of 22.73 and a beta of 1.41. The firm has a 50-day simple moving average of $52.47 and a 200-day simple moving average of $55.79. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.09. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $64.52.
Insider Transactions at SS&C Technologies
In other news, COO Rahul Kanwar sold 140,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $56.76, for a total value of $7,946,400.00. Following the transaction, the chief operating officer now directly owns 50,000 shares in the company, valued at approximately $2,838,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SS&C Technologies news, Director Normand A. Boulanger sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $55.19, for a total value of $1,103,800.00. Following the sale, the director now directly owns 380,000 shares of the company’s stock, valued at approximately $20,972,200. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Rahul Kanwar sold 140,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 50,000 shares in the company, valued at $2,838,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,000 shares of company stock worth $12,353,800. 14.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On SS&C Technologies
A number of large investors have recently modified their holdings of SSNC. Price T Rowe Associates Inc. MD increased its position in shares of SS&C Technologies by 482.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,727,873 shares of the technology company’s stock valued at $210,514,000 after purchasing an additional 3,088,224 shares during the last quarter. Norges Bank purchased a new position in shares of SS&C Technologies in the 4th quarter valued at $124,570,000. Shapiro Capital Management LLC purchased a new position in shares of SS&C Technologies in the 4th quarter valued at $118,298,000. Capital World Investors purchased a new position in shares of SS&C Technologies in the 1st quarter valued at $103,226,000. Finally, Millennium Management LLC grew its position in shares of SS&C Technologies by 599.0% in the 4th quarter. Millennium Management LLC now owns 1,074,433 shares of the technology company’s stock valued at $55,935,000 after buying an additional 920,725 shares during the last quarter. 82.17% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of SS&C Technologies from $74.00 to $71.00 in a research note on Friday, July 28th. StockNews.com upgraded shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 9th. UBS Group started coverage on shares of SS&C Technologies in a report on Tuesday, November 7th. They issued a “buy” rating and a $72.00 target price on the stock. Morgan Stanley decreased their target price on shares of SS&C Technologies from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Finally, Needham & Company LLC decreased their target price on shares of SS&C Technologies from $71.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $66.33.
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.
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