SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) to Issue Dividend Increase – $0.25 Per Share

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) declared a quarterly dividend on Wednesday, August 21st, Zacks reports. Stockholders of record on Tuesday, September 3rd will be given a dividend of 0.25 per share by the technology company on Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24.

SS&C Technologies has raised its dividend payment by an average of 18.4% annually over the last three years. SS&C Technologies has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SS&C Technologies to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.9%.

SS&C Technologies Trading Up 1.3 %

NASDAQ:SSNC opened at $75.09 on Monday. The stock has a 50-day simple moving average of $68.56 and a 200-day simple moving average of $64.65. The stock has a market cap of $18.43 billion, a P/E ratio of 29.92 and a beta of 1.38. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $75.10. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. As a group, analysts anticipate that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SSNC shares. DA Davidson raised their price objective on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC raised their price objective on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.75.

Insider Activity

In other news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 468,190 shares of company stock worth $34,031,675. 15.40% of the stock is currently owned by corporate insiders.

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.