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 5.120-5.180 for the period, compared to the consensus EPS estimate of 5.160. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $5.12-5.18 EPS.

Analysts Set New Price Targets

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

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC traded down $5.11 during trading on Friday, hitting $70.04. 5,279,461 shares of the company traded hands, compared to its average volume of 1,045,626. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 27.77 and a beta of 1.38. SS&C Technologies has a one year low of $46.61 and a one year 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 business’s fifty day moving average is $74.43 and its 200-day moving average is $67.66.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. As a group, equities analysts predict that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.43%. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

SS&C Technologies announced that its board has authorized a share buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated 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 sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 609,690 shares of company stock worth $44,821,055. Company 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.