SS&C Technologies Holdings, Inc. Announces Quarterly Dividend of $0.24 (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) announced a quarterly dividend on Monday, May 20th, Zacks reports. Investors of record on Monday, June 3rd will be given a dividend of 0.24 per share by the technology company on Monday, June 17th. This represents a $0.96 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, June 3rd.

SS&C Technologies has raised its dividend payment by an average of 18.4% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. SS&C Technologies has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SS&C Technologies to earn $5.09 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 18.9%.

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $63.33 on Wednesday. The stock has a fifty day moving average price of $62.56 and a 200-day moving average price of $60.71. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 25.23 and a beta of 1.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. As a group, equities analysts anticipate that SS&C Technologies will post 4.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on SSNC shares. Jefferies Financial Group upped their target price on SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 29th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. DA Davidson reiterated a “buy” rating and issued a $78.00 price target on shares of SS&C Technologies in a report on Tuesday, April 16th. TheStreet upgraded SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Finally, Truist Financial increased their price target on SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction dated 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 sale, the director now owns 38,000 shares of the company’s stock, valued at $2,429,720. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.40% of the company’s stock.

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.