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

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SSNC shares. Evercore raised shares of SS&C Technologies to an “outperform” rating in a research note on Friday. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. BWS Financial reaffirmed a “buy” rating on shares of SS&C Technologies in a report on Wednesday, September 9th. Weiss Ratings upgraded SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Finally, Jefferies Financial Group lifted their target price on SS&C Technologies from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and a consensus price target of $96.57.

SS&C Technologies Price Performance

The stock has a market capitalization of $19.34 billion, a P/E ratio of 23.71 and a beta of 1.09. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $81.46 and a two-hundred day simple moving average of $73.74.

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

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors 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 a positive change 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 presently 34.48%.

Hedge Funds Weigh In On SS&C Technologies

Large investors have recently bought and sold shares of the business. Meiji Yasuda Life Insurance Co boosted its stake in shares of SS&C Technologies by 1.3% during the second quarter. Meiji Yasuda Life Insurance Co now owns 15,189 shares of the technology company’s stock valued at $942,000 after purchasing an additional 192 shares during the period. Kera Capital Partners Inc. increased its stake in SS&C Technologies by 4.5% in the 1st quarter. Kera Capital Partners Inc. now owns 4,486 shares of the technology company’s stock worth $303,000 after buying an additional 194 shares during the period. Vest Financial LLC increased its stake in SS&C Technologies by 0.8% in the 3rd quarter. Vest Financial LLC now owns 28,958 shares of the technology company’s stock worth $2,232,000 after buying an additional 227 shares during the period. HB Wealth Management LLC lifted its holdings in SS&C Technologies by 6.6% during the 1st quarter. HB Wealth Management LLC now owns 4,151 shares of the technology company’s stock valued at $280,000 after buying an additional 256 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in SS&C Technologies by 8.7% during the 3rd quarter. Signaturefd LLC now owns 3,549 shares of the technology company’s stock valued at $274,000 after buying an additional 283 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

About SS&C Technologies

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.