SS&C Technologies (NASDAQ:SSNC) Shares Gap Down – Here’s What Happened

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $89.54, but opened at $82.96. SS&C Technologies shares last traded at $83.5590, with a volume of 55,287 shares traded.

Analysts Set New Price Targets

SSNC has been the topic of several recent research reports. UBS Group reiterated a “buy” rating on shares of SS&C Technologies in a research report on Friday. DA Davidson increased their price target on shares of SS&C Technologies from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings upgraded shares of SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Evercore raised SS&C Technologies to an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

SS&C Technologies Stock Down 0.7%

The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $81.46 and a 200-day simple moving average of $73.74. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 23.71 and a beta of 1.09.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 22nd. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $1.57 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 6.26 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 1.5%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.27. SS&C Technologies’s payout ratio is 34.48%.

Institutional Trading of SS&C Technologies

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of SS&C Technologies in the second quarter valued at $1,043,987,000. Pzena Investment Management LLC bought a new position in shares of SS&C Technologies in the second quarter valued at about $684,819,000. Jupiter Topco LLC bought a new position in shares of SS&C Technologies in the second quarter valued at about $178,337,000. Legal & General Group Plc acquired a new position in SS&C Technologies during the 2nd quarter worth about $71,335,000. Finally, Lakewood Capital Management LP acquired a new position in SS&C Technologies during the 2nd quarter worth about $63,102,000. 96.90% of the stock is owned by institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.