SS&C Technologies (NASDAQ:SSNC) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw unusually-high trading volume on Thursday. 4,528,704 shares traded hands 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SSNC. Evercore upgraded shares of SS&C Technologies to an “outperform” rating in a report on Friday, October 23rd. Weiss Ratings raised shares of SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Needham & Company LLC upped their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. dropped their price target on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Finally, Royal Bank Of Canada lifted their price target on shares of SS&C Technologies from $92.00 to $101.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

SS&C Technologies Stock Performance

The stock has a 50 day moving average of $81.01 and a 200 day moving average of $74.23. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 22.33 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, October 22nd. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that SS&C Technologies Holdings, Inc. will post 6.38 EPS for the current year.

SS&C Technologies Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in SS&C Technologies in the second quarter worth approximately $1,043,987,000. Pzena Investment Management LLC grew its position in shares of SS&C Technologies by 18.6% during the 3rd quarter. Pzena Investment Management LLC now owns 13,093,819 shares of the technology company’s stock worth $1,009,141,000 after buying an additional 2,057,251 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SS&C Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,115,616 shares of the technology company’s stock worth $210,508,000 after buying an additional 60,089 shares during the period. Jupiter Topco LLC acquired a new stake in shares of SS&C Technologies during the 2nd quarter worth approximately $178,337,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of SS&C Technologies by 5.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,123,578 shares of the technology company’s stock valued at $163,664,000 after acquiring an additional 102,252 shares in the last quarter. 96.90% of the stock is 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.