In a recent transaction, Michael Jay Zamkow, a director at SS&C Technologies Holdings Inc (NASDAQ:SSNC), sold 5,000 shares of the company's common stock, totaling approximately $315,720. The shares were sold at a weighted average price of $63.1441, with individual sale prices ranging from $63.090 to $63.195.
The sale occurred on May 9, 2024, as indicated by a filing with the Securities and Exchange Commission. In the same filing, it was noted that Zamkow also exercised options to acquire an equivalent number of shares at a price of $22.375 per share, amounting to a total transaction value of $111,875. These transactions resulted in a net decrease in Zamkow's direct holdings in SS&C Technologies, although following the sale, he still owned 38,000 shares directly.
Additionally, Zamkow has indirect holdings through a brokerage account in the name of his adult son, consisting of 2,175 shares, and through family trusts, which hold 46,200 shares. Zamkow has disclaimed beneficial ownership of these securities, except to the extent of his pecuniary interest.
SS&C Technologies, a leader in services and software for the financial services and healthcare industries, has not made any additional comments regarding these transactions. The transactions were made public through the standard reporting process and provide insight into the trading activities of the company's insiders.
InvestingPro Insights
SS&C Technologies Holdings Inc (NASDAQ:SSNC) has been a stable presence in the market, with a noteworthy gross profit margin of 49.14% over the last twelve months as of Q1 2024. This reflects the company's efficiency in managing its cost of goods sold and indicates a strong competitive position in the financial services and healthcare software industry. Additionally, SS&C Technologies has demonstrated a commitment to shareholder returns, having raised its dividend for 7 consecutive years and maintaining dividend payments for 11 consecutive years, showcasing a reliable track record of returning value to its investors.
The company's market capitalization stands at a robust 15.6 billion USD, and it trades at a price-to-earnings (P/E) ratio of 24.44, which is slightly high when considering the near-term earnings growth. This indicates that investors have high expectations for the company's future earnings potential. The P/E ratio adjusted for the last twelve months as of Q1 2024 is 23.88, which provides a nuanced perspective on the company's valuation over a more recent period.
For those interested in a deeper dive into SS&C Technologies' financial health, InvestingPro offers additional insights. With PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to more InvestingPro Tips, such as the expected net income growth this year and the company's profitability over the last twelve months. In total, there are 9 additional InvestingPro Tips available for SS&C Technologies, providing a comprehensive analysis for current or potential investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.