SS&C Technologies (NASDAQ:SSNC) Sees Large Volume Increase – Time to Buy?

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw unusually-strong trading volume on Thursday. 4,528,704 shares were traded during trading, an increase of 113% from the average daily volume of 2,126,168 shares. The stock last traded at $80.3710 and had previously closed at $79.57.

Wall Street Analyst Weigh In

A number of research firms recently commented on SSNC. Royal Bank Of Canada increased their target price on SS&C Technologies from $92.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Needham & Company LLC lifted their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. cut their price objective on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, July 20th. DA Davidson increased their price objective on SS&C Technologies from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Finally, Evercore raised SS&C Technologies to an “outperform” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SS&C Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $96.57.

SS&C Technologies Stock Down 1.3%

The company has a market cap of $18.44 billion, a PE ratio of 22.58 and a beta of 1.04. The stock’s 50 day moving average price is $81.22 and its 200-day moving average price is $74.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.06 and a current ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 22nd. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.69 billion. SS&C Technologies had a net margin of 12.76% and a return on equity of 21.74%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. On average, analysts predict that SS&C Technologies Holdings, Inc. will post 6.30 earnings per share for the current year.

SS&C Technologies Increases Dividend

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

Institutional Investors Weigh In On SS&C Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ZWJ Investment Counsel Inc. grew its position in SS&C Technologies by 6.7% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 495,122 shares of the technology company’s stock worth $38,159,000 after acquiring an additional 30,907 shares during the last quarter. Andra AP fonden lifted its position in SS&C Technologies by 56.9% in the second quarter. Andra AP fonden now owns 331,000 shares of the technology company’s stock valued at $20,539,000 after purchasing an additional 120,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SS&C Technologies during the second quarter valued at approximately $15,709,000. GSA Capital Partners LLP purchased a new stake in shares of SS&C Technologies during the second quarter valued at approximately $1,380,000. Finally, Deutsche Bank AG bought a new position in shares of SS&C Technologies in the second quarter worth approximately $49,838,000. Institutional investors own 96.90% of the company’s stock.

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.