SS&C Technologies Holdings, Inc. (NASDAQ:SSNC – Get Free Report) 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.
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.
View Our Latest Analysis on SSNC
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.
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