SS&C Technologies (NASDAQ:SSNC) Issues FY 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.980-5.220 for the period, compared to the consensus EPS estimate of 5.110. The company issued revenue guidance of $5.7 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $4.98-5.22 EPS.

Analyst Ratings Changes

A number of research firms have recently weighed in on SSNC. Royal Bank of Canada raised their price objective on SS&C Technologies from $72.00 to $75.00 and gave the stock an outperform rating in a research report on Friday. DA Davidson lifted their price objective on SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 18th. Needham & Company LLC lifted their price objective on SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a research note on Friday. Finally, Jefferies Financial Group raised their target price 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. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $71.80.

SS&C Technologies Stock Up 6.3 %

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

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

SS&C Technologies Dividend Announcement

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

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the sale, the director now owns 41,576 shares in the company, valued at $2,513,684.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 32,500 shares of company stock valued at $2,027,750. 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.