SS&C Technologies (NASDAQ:SSNC) Issues Q3 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.210-1.270 for the period, compared to the consensus EPS estimate of 1.270. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

Analyst Upgrades and Downgrades

SSNC has been the topic of a number of analyst reports. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the stock a buy rating in a report on Friday. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an outperform rating in a research note on Friday. DA Davidson increased their price objective on SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group raised their target price on SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $71.80.

SS&C Technologies Price Performance

SSNC stock traded up $4.27 during trading hours on Friday, hitting $72.29. 2,925,453 shares of the stock traded hands, compared to its average volume of 967,049. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The stock has a 50-day simple moving average of $63.10 and a 200 day simple moving average of $62.52. SS&C Technologies has a one year low of $46.61 and a one year high of $73.30. The company has a market cap of $17.88 billion, a P/E ratio of 28.94 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Equities analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Insiders Place Their Bets

In related news, Director Michael Jay Zamkow sold 7,500 shares of SS&C Technologies stock in a transaction on Monday, June 17th. The shares were sold at an average price of $60.46, for a total value of $453,450.00. Following the completion of the sale, the director now owns 41,576 shares of the company’s stock, 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. Insiders sold a total of 32,500 shares of company stock worth $2,027,750 over the last ninety days. 15.40% of the stock is currently owned by company 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.