SS&C Technologies (NASDAQ:SSNC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.27 and traded as high as $76.17. SS&C Technologies shares last traded at $76.05, with a volume of 934,494 shares traded.

Analyst Ratings Changes

SSNC has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Raymond James upped their price objective on SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Two research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Stock Up 0.8 %

The firm has a market capitalization of $18.84 billion, a PE ratio of 27.26 and a beta of 1.37. The firm’s 50-day moving average is $75.00 and its 200 day moving average is $72.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the sale, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,000 shares of company stock valued at $34,461,478. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank raised its holdings in shares of SS&C Technologies by 26.4% in the 3rd quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock worth $2,385,000 after purchasing an additional 6,721 shares during the period. State Street Corp grew its stake in SS&C Technologies by 2.2% during the third quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock worth $417,370,000 after buying an additional 121,223 shares during the period. National Pension Service increased its position in shares of SS&C Technologies by 5.4% in the third quarter. National Pension Service now owns 530,166 shares of the technology company’s stock worth $39,344,000 after acquiring an additional 27,336 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of SS&C Technologies by 64.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 172,712 shares of the technology company’s stock valued at $12,817,000 after acquiring an additional 67,915 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of SS&C Technologies during the 3rd quarter valued at $2,219,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

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.