SS&C Technologies (NASDAQ:SSNC) Releases FY24 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $5.12-5.18 for the period, compared to the consensus EPS estimate of $5.16. The company issued revenue guidance of $5.815-5.855 billion, compared to the consensus revenue estimate of $5.80 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

Analysts Set New Price Targets

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

SS&C Technologies Stock Performance

Shares of SSNC opened at $70.04 on Friday. The firm’s 50 day moving average price is $74.38 and its two-hundred day moving average price is $67.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The firm 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 twelve month low of $46.61 and a twelve month high of $77.02.

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 analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion for 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 17.43%. 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 company earned $0.96 earnings per share. On average, analysts forecast that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

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

SS&C Technologies declared that its board has approved a stock buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. 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 have sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

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.