SS&C Technologies executive sells more than $9.7 million in company stock to Investing.com

SS&C Technologies Holdings Inc (NASDAQ:SSNC) director Normand A. Boulanger recently engaged in significant trading activity involving the company’s stock, according to the latest filings with the SEC. On September 16, Boulanger sold 130,000 shares of common stock at a weighted average price of $75.3756, raising approximately $9.7 million. Shares were sold at a range of $75.00 to $75.65.

In addition to the sale, Boulanger purchased an additional 180,000 shares through the exercise of options at a price of $28.265 per share, for a total of $5.1 million. It is noted that the options exercised were “time dependent” and fully vested on December 19, 2018.

Following these transactions, Boulanger’s ownership of SS&C Technologies was adjusted to 333,576 shares of common stock. The company, known for its prepackaged software services, is headquartered in Windsor, Connecticut and incorporated in Delaware.

Investors and market watchers often scrutinize insider trading activities like Boulanger’s for insights into executive confidence and company performance. SS&C Technologies has not released any official statement regarding these transactions at the time of this report.

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

SS&C also announced an increase in its quarterly dividend from $0.24 to $0.25 per share following a reported 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 management and settlement recovery services, for approximately $670 million, which expected to be accretive to SS&C earnings over the next 12 months.

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

InvestingPro Insights

SS&C Technologies Holdings Inc (NASDAQ:SSNC) has shown some noteworthy performance numbers that may be of interest to investors looking at the recent insider trading activity of Director Normand A. Boulanger. With a market cap of $18.54 billion, the company is a major player in the prepackaged software industry. A key InvestingPro tip highlights SS&C’s ability to maintain and grow its dividend, having raised it for 7 consecutive years, indicating the company’s financial health and commitment to shareholder returns.

The company’s strong fundamentals are also underlined by its impressive gross profit margins, which reached 49.38% in the trailing twelve months through Q2 2024. This is coupled with consistent revenue growth of 5.19% over the same period, reflecting SS&C’s ability to expand its business while maintaining profitability. Additionally, the stock traded near its 52-week high, with a price of 99.56% from the top, signaling positive investor sentiment and solid market valuation.

Another InvestingPro tip suggests that SS&C’s net income is expected to rise this year, which could be a reassuring sign for investors given the backdrop of insider trading. The company’s P/E ratio is 26.63, providing insight into its valuation relative to earnings. For those seeking additional information and detailed analysis, there is additional InvestingPro advice available at: https://www.investing.com/pro/SSNC, which may provide a deeper understanding of SS&C Technologies’ financial outlook and investment potential.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.