SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) declared a quarterly dividend on Wednesday, May 20th, Zacks reports. Stockholders of record on Monday, June 1st will be paid a dividend of 0.125 per share by the technology company on Monday, June 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, May 29th.
SS&C Technologies has raised its dividend by an average of 23.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. SS&C Technologies has a payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SS&C Technologies to earn $4.08 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.3%.
Shares of NASDAQ:SSNC traded down $0.49 on Friday, hitting $55.52. 38,592 shares of the company traded hands, compared to its average volume of 2,042,882. SS&C Technologies has a 52 week low of $29.51 and a 52 week high of $66.74. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. The stock has a 50 day simple moving average of $51.53 and a 200-day simple moving average of $56.43. The company has a market cap of $14.54 billion, a PE ratio of 32.56 and a beta of 1.47.
Several equities research analysts recently commented on SSNC shares. Morgan Stanley reduced their price objective on SS&C Technologies from $63.00 to $57.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of SS&C Technologies in a report on Thursday, April 23rd. BidaskClub upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Citigroup reduced their price objective on SS&C Technologies from $75.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, UBS Group reduced their price objective on SS&C Technologies from $72.00 to $66.00 and set a “buy” rating for the company in a report on Friday, May 1st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.86.
In related news, Director Smita Conjeevaram acquired 1,750 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average cost of $39.43 per share, with a total value of $69,002.50. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $236,580. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 3,001 shares of company stock worth $142,541. Insiders own 14.60% of the company’s stock.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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