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

SS&C Technologies (NASDAQ:SSNC) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.29-1.35 for the period, compared to the consensus earnings per share estimate of $1.36. The company issued revenue guidance of $1.46-1.50 billion, compared to the consensus revenue estimate of $1.47 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

SS&C Technologies Stock Performance

SSNC stock opened at $70.04 on Friday. The company has a market cap of $17.32 billion, a P/E ratio of 27.90 and a beta of 1.38. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $77.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s fifty day moving average price is $74.38 and its 200-day moving average price is $67.75.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (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 the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. On average, equities analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is an increase 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 1.43%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies declared that its board has initiated a share buyback program on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Raymond James lifted their target price on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday. Finally, DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.00.

Insider Transactions at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by 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.