SS&C Technologies (NASDAQ:SSNC) Releases FY24 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $4.98-5.22 for the period, compared to the consensus earnings per share estimate of $5.11. The company issued revenue guidance of $5.706-5.866 billion, compared to the consensus revenue estimate of $5.78 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SSNC. DA Davidson upped their price target on SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research report on Thursday, July 18th. Jefferies Financial Group upped their price target on SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research report on Monday, April 29th. Needham & Company LLC upped their price target on SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a research report on Friday. Finally, Royal Bank of Canada upped their price target on SS&C Technologies from $72.00 to $75.00 and gave the company an outperform rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $71.80.

SS&C Technologies Stock Performance

NASDAQ SSNC traded up $4.27 during trading hours on Friday, hitting $72.29. The company had a trading volume of 2,959,802 shares, compared to its average volume of 867,725. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $73.30. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $63.27 and a 200-day simple moving average of $62.60. The firm has a market cap of $17.88 billion, a P/E ratio of 28.80 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts predict that SS&C Technologies will post 4.62 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the transaction, the director now owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 32,500 shares of company stock valued at $2,027,750 over the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

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.