SS&C Technologies (NASDAQ:SSNC) Releases Q4 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.290-1.350 for the period, compared to the consensus estimate of 1.350. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, DA Davidson reiterated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

SS&C Technologies Trading Down 0.8 %

Shares of NASDAQ SSNC traded down $0.64 during mid-day trading on Thursday, reaching $75.15. The company had a trading volume of 1,365,068 shares, compared to its average volume of 1,025,074. The business’s 50-day moving average is $74.38 and its 200-day moving average is $67.61. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 30.20 and a beta of 1.38. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts expect that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. SS&C Technologies’s dividend payout ratio is presently 39.84%.

SS&C Technologies announced that its board has authorized a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the 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 transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the 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 transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock valued at $44,821,055 over the last three months. 15.40% of the stock is 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.