SS&C Technologies (NASDAQ:SSNC) Releases Q3 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.210-1.270 for the period, compared to the consensus estimate of 1.270. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

SS&C Technologies Trading Up 6.3 %

Shares of SSNC stock traded up $4.27 during mid-day trading on Friday, reaching $72.29. The stock had a trading volume of 2,959,802 shares, compared to its average volume of 867,725. The stock’s 50-day moving average price is $63.27 and its two-hundred day moving average price is $62.60. The firm has a market capitalization of $17.88 billion, a PE ratio of 28.80 and a beta of 1.38. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $73.30.

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

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid 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 of this dividend was Monday, June 3rd. SS&C Technologies’s payout ratio is 38.25%.

Analyst Ratings Changes

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

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the transaction, the director now owns 41,576 shares in the company, valued at approximately $2,513,684.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 32,500 shares of company stock worth $2,027,750 over the last quarter. 15.40% of the stock is currently owned by 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.