SS&C Technologies (NASDAQ:SSNC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

A number of research firms have recently weighed in on SSNC. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada raised their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Raymond James upped their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Up 0.8 %

The stock’s 50 day simple moving average is $75.00 and its two-hundred day simple moving average is $72.27. The stock has a market capitalization of $18.84 billion, a PE ratio of 27.26 and a beta of 1.38. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. On average, sell-side analysts expect that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On SS&C Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in SS&C Technologies during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. increased its holdings in shares of SS&C Technologies by 43.3% in the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of SS&C Technologies in the third quarter worth $68,000. Versant Capital Management Inc boosted its stake in SS&C Technologies by 32.5% during the fourth quarter. Versant Capital Management Inc now owns 949 shares of the technology company’s stock valued at $72,000 after buying an additional 233 shares during the period. Finally, Brooklyn Investment Group purchased a new position in SS&C Technologies during the third quarter worth about $73,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

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.