SS&C Technologies (NASDAQ:SSNC) Issues Q3 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.21-1.27 for the period, compared to the consensus estimate of $1.27. The company issued revenue guidance of $1.42-1.46 billion, compared to the consensus revenue estimate of $1.44 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

Analyst Ratings Changes

SSNC has been the subject of a number of research analyst reports. DA Davidson upped their price target on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a report on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research note on Monday, April 29th. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a buy rating in a research report on Friday. Finally, Royal Bank of Canada upped their price target on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an outperform rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $71.80.

SS&C Technologies Stock Up 6.3 %

SSNC traded up $4.27 on Friday, reaching $72.29. 2,925,453 shares of the company traded hands, compared to its average volume of 967,049. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $73.30. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 28.94 and a beta of 1.38. The stock’s 50 day moving average price is $63.10 and its 200-day moving average price is $62.52.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. On average, sell-side analysts expect that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s payout ratio is currently 38.25%.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $63.94, for a total value of $639,400.00. Following the completion of the sale, the director now directly owns 38,000 shares in the company, valued at $2,429,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 32,500 shares of company stock valued at $2,027,750 in the last three months. Corporate insiders own 15.40% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.