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

SS&C Technologies (NASDAQ:SSNC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.21-1.27 for the period, compared to the consensus earnings per share 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

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a report on Monday, April 29th. Royal Bank of Canada increased their target price 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 increased their target price on SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC increased their price objective on SS&C Technologies from $74.00 to $81.00 and gave the stock a buy rating in a research report 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 company. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of Moderate Buy and a consensus price target of $71.80.

SS&C Technologies Stock Up 6.3 %

Shares of SSNC stock traded up $4.27 during trading hours on Friday, hitting $72.29. 2,959,802 shares of the company’s stock traded hands, compared to its average volume of 867,725. The stock’s fifty day simple moving average is $63.27 and its two-hundred day simple moving average is $62.60. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $73.30. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 28.80 and a beta of 1.38. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

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

SS&C Technologies Announces Dividend

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

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 10,000 shares of the business’s 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 transaction, the director now directly owns 38,000 shares in the company, valued at approximately $2,429,720. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 32,500 shares of company stock worth $2,027,750 in the last three months. Insiders own 15.40% of the company’s stock.

About SS&C Technologies

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.