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.
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.
- Get a free copy of the StockNews.com research report on SS&C Technologies (SSNC)
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