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

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.21-1.27 for the period, compared to the consensus EPS estimate of $1.27. The company issued revenue guidance of $1.42-1.46 billion, compared to the consensus revenue estimate of $1.44 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

SS&C Technologies Trading Up 6.3 %

SS&C Technologies stock traded up $4.27 during mid-day trading on Friday, hitting $72.29. The company’s stock had a trading volume of 2,959,802 shares, compared to its average volume of 867,725. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 28.80 and a beta of 1.38. The business has a 50 day moving average price of $63.27 and a 200-day moving average price of $62.60. SS&C Technologies has a 12 month low of $46.61 and a 12 month high of $73.30.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, analysts forecast that SS&C Technologies will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors 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 yield of 1.33%. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SSNC. Jefferies Financial Group increased their price objective on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research report on Monday, April 29th. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $72.00 to $75.00 and gave the company an outperform rating in a report on Friday. DA Davidson upped their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a report on Thursday, July 18th. Finally, 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 research note on Friday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $71.80.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the stock in a transaction 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 $2,513,684.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 32,500 shares of company stock worth $2,027,750. 15.40% of the stock is 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.