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

SS&C Technologies (NASDAQ:SSNC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.980-5.220 for the period, compared to the consensus EPS estimate of 5.110. The company issued revenue guidance of $5.7 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $4.98-5.22 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SSNC. Jefferies Financial Group raised their price target 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. Needham & Company LLC raised their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a buy rating in a research note on Friday, April 26th. Finally, DA Davidson raised their price target on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $70.80.

SS&C Technologies Trading Up 1.0 %

NASDAQ:SSNC traded up $0.69 during mid-day trading on Thursday, hitting $68.02. 1,255,586 shares of the company’s stock were exchanged, compared to its average volume of 953,138. The company has a 50 day simple moving average of $63.02 and a 200-day simple moving average of $62.48. 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 fifty-two week low of $46.61 and a fifty-two week high of $69.49. The firm has a market capitalization of $16.82 billion, a P/E ratio of 27.10 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.42 billion. As a group, research analysts expect that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 1.41%. SS&C Technologies’s payout ratio is 38.25%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of 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 SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 32,500 shares of company stock worth $2,027,750. 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.