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

SS&C Technologies (NASDAQ:SSNC) issued an update on its FY24 earnings guidance on Thursday morning. 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.

SS&C Technologies Stock Performance

SSNC traded up $0.69 during midday trading on Thursday, reaching $68.02. The company had a trading volume of 1,255,586 shares, compared to its average volume of 953,138. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $16.82 billion, a PE ratio of 27.10 and a beta of 1.38. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $69.49. The business has a 50-day moving average price of $63.02 and a two-hundred day moving average price of $62.48.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm 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 earnings per share for the current fiscal 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is currently 38.25%.

Wall Street Analyst Weigh In

SSNC has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock a hold rating in a report on Monday, April 29th. DA Davidson upped their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Needham & Company LLC upped their target price on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $70.80.

Insider Transactions at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 5,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $63.14, for a total value of $315,700.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $2,399,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 32,500 shares of company stock valued at $2,027,750 in the last quarter. 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.