SS&C Technologies (NASDAQ:SSNC) Releases Q2 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.16-1.22 for the period, compared to the consensus estimate of $1.21. The company issued revenue guidance of $1.412-1.452, compared to the consensus revenue estimate of $1.43 billion. SS&C Technologies also updated its FY24 guidance to $4.93-5.17 EPS.

SS&C Technologies Trading Down 0.4 %

Shares of SSNC traded down $0.23 during mid-day trading on Thursday, reaching $61.31. The stock had a trading volume of 1,182,505 shares, compared to its average volume of 960,181. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. The business’s fifty day moving average is $62.88 and its 200 day moving average is $59.07. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 25.45 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, sell-side analysts predict that SS&C Technologies will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) is 40.34%.

Wall Street Analyst Weigh In

SSNC has been the topic of a number of research reports. Needham & Company LLC increased their price objective on SS&C Technologies from $62.00 to $70.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Truist Financial raised their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Citigroup upped their target price on SS&C Technologies from $70.00 to $71.00 and gave the company a buy rating in a research report on Thursday, February 15th. Finally, UBS Group raised their target price on SS&C Technologies from $72.00 to $77.00 and gave the company a buy rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $70.78.

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.