SS&C Technologies (SSNC): A Breakout is in the Charts

SS&C Technologies (SSNC) is approaching a key resistance level.  If this level is surpassed a breakout could occur…

SS&C Technologies (SSNC) provides software products and software-enabled services to a variety of customers primarily in financial services but also healthcare firms. In addition, the company provides portfolio accounting, portfolio management, trading, banking/lending, and other software to asset managers, banks, and financial advisors.

The company is seeing success with its newest products and growing its client base. It was able to leverage algorithmics capabilities and the pandemic into its investment scenarios. On the health side, SSNC launched its flu pilot program, which provides outreach to SS&C Health clients to enhance the rates of flu vaccinations. The company also developed a similar COVAX program that ensured the successful completion of the COVID Vaccine.

SS&C has a healthy balance sheet with $209 million in cash and only $54 million in short-term debt as of the last reported quarter. The firm also has a net margin of 13.4%, which is higher than the industry average. In its most recent quarter, earnings were up 5% year over year, while revenue was flat.

The stock’s trailing P/E is a tad higher at 29.30, but its forward P/E is low at 15.15. SSNC has shown bullish long-term momentum, but mixed medium-term performance over the past few months.

Take a look at the 1-year chart of SSNC below with my added notations…

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