SS&C Technologies Director Sells Over $9.7 Million of Company Stock to Investing.com

Normand A. Boulanger, a director of SS&C Technologies Holdings Inc. (NASDAQ:SSNC), has engaged in significant trading activity involving the company’s stock, according to recent SEC filings. On September 16, Boulanger sold 130,000 shares of common stock at a weighted average price of $75.3756, for a total of approximately $9.7 million. The shares were sold at various prices ranging from $75.00 to $75.65.

In addition to the sale, Boulanger also exercised options to acquire 180,000 shares at a price of $28.265 per share, for a total value of $5.1 million. The options exercised were “time-based” and vested in full on December 19, 2018.

Under the deal, Boulanger’s ownership in SS&C Technologies was adjusted to 333,576 shares of common stock. The company, known for its pre-packaged software services, is headquartered in Windsor, Connecticut, and incorporated in Delaware.

Investors and market watchers often scrutinize insider trading activities like Boulanger’s to gain insight into executive confidence and company performance. SS&C Technologies has not made any official statements about these transactions as of the time of this report.

In other recent news, SS&C Technologies Holdings, Inc. made significant progress on its financial performance and strategic growth. The company reported record adjusted revenue of $1,452.4 million for the second quarter of 2024, beating expectations by $20 million. Adjusted diluted earnings per share (EPS) increased 17.6% year over year to $1.27, showing strong organic growth. The company repurchased 3.7 million shares for $227 million, the largest buyback in its history, showing management’s confidence in the company’s financial health and future prospects.

SS&C also announced that it is increasing its quarterly dividend from $0.24 to $0.25 per share after reporting an increase in net cash from operating activities. The company also entered into a definitive agreement to acquire Battea-Class Action Services, LLC, a leading provider of securities class action claims administration and settlement recovery services, for approximately $670m, which is expected to be accretive to SS&C’s earnings over the next 12 months.

Analysts at RBC Capital and Needham responded positively to these developments. RBC Capital raised its target price for SS&C from $72 to $75, maintaining its Outperform rating. Likewise, Needham raised its target price for SS&C from $74.00 to $81.00, maintaining its Buy rating on the stock. These recent developments indicate a strong approach to growth and customer service, with high single-digit organic revenue growth expected in the medium term.

InvestingPro Insights

SS&C Technologies Holdings Inc (NASDAQ:SSNC) has recently shown some notable performance metrics that may be of interest to investors who are analyzing the insider trading activities of director Normand A. Boulanger. With a market cap of $18.54 billion, the company has established itself as a significant player in the pre-packaged software industry. One of InvestingPro’s key tips highlights SS&C’s ability to maintain and grow its dividend by raising it for seven consecutive years, which speaks to the company’s financial health and commitment to shareholder returns.

The company’s strong fundamentals are further highlighted by its impressive gross profit margin, which stood at 49.38% for the last 12 months as of Q2 2024. This, combined with a steady revenue growth of 5.19% over the same period, reflects SS&C’s ability to grow its business while maintaining profitability. The stock is also trading near its 52-week high, with a price tag of 99.56% of its all-time high indicating positive investor sentiment and a strong market valuation.

Another InvestingPro tip suggests that SS&C’s net income is expected to increase this year, which could be a reassuring signal for investors considering the insider trading context. The company’s P/E ratio is 26.63, which provides a perspective on its valuation relative to earnings. For those seeking additional insight and detailed analysis, additional InvestingPro tips available at https://www.investing.com/pro/SSNC can help you gain a deeper understanding of SS&C Technologies’ financial outlook and investment potential.

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