SS&C Technologies (NASDAQ:SSNC) Issues Q4 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.290-1.350 for the period, compared to the consensus earnings per share estimate of 1.350. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSNC. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday. Finally, Raymond James raised their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.00.

SS&C Technologies Trading Down 6.8 %

Shares of SSNC traded down $5.11 during trading hours on Friday, reaching $70.04. The stock had a trading volume of 5,279,461 shares, compared to its average volume of 1,045,626. The company has a market cap of $17.32 billion, a P/E ratio of 27.77 and a beta of 1.38. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average of $74.43 and a 200 day moving average of $67.66.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.96 earnings per share. SS&C Technologies’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 39.84%.

SS&C Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is owned by corporate insiders.

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.