SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Declares $0.20 Quarterly Dividend

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Investors of record on Wednesday, June 1st will be paid a dividend of 0.20 per share by the technology company on Wednesday, June 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 31st.

SS&C Technologies has raised its dividend payment by an average of 31.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. SS&C Technologies has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect SS&C Technologies to earn $5.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.9%.

Shares of SSNC opened at $64.76 on Friday. SS&C Technologies has a 1-year low of $58.31 and a 1-year high of $84.85. The company has a 50-day moving average of $68.53 and a 200 day moving average of $75.16. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of 21.73 and a beta of 1.56. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.08 and a quick ratio of 1.08.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The technology company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). SS&C Technologies had a net margin of 15.59% and a return on equity of 20.78%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that SS&C Technologies will post 4.7 earnings per share for the current fiscal year.

SSNC has been the subject of several recent research reports. Raymond James reduced their price target on shares of SS&C Technologies from $95.00 to $93.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 5th. Zacks Investment Research lowered shares of SS&C Technologies from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Morgan Stanley boosted their price target on shares of SS&C Technologies from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Finally, StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $91.89.

Institutional investors have recently modified their holdings of the company. KB Financial Partners LLC purchased a new position in shares of SS&C Technologies in the 4th quarter worth approximately $30,000. Raleigh Capital Management Inc. purchased a new stake in SS&C Technologies during the 4th quarter worth approximately $33,000. Penserra Capital Management LLC grew its position in SS&C Technologies by 25.0% during the 4th quarter. Penserra Capital Management LLC now owns 1,001 shares of the technology company’s stock worth $82,000 after purchasing an additional 200 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in SS&C Technologies during the 1st quarter worth approximately $129,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in SS&C Technologies during the 1st quarter worth approximately $206,000. 96.54% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Company Profile (Get Rating)

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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