SS&C Technologies (NASDAQ:SSNC – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.980-5.220 for the period, compared to the consensus estimate of 5.110. The company issued revenue guidance of $5.7 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $4.98-5.22 EPS.
Analyst Ratings Changes
SSNC has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research note on Monday, April 29th. Needham & Company LLC increased their price objective on SS&C Technologies from $70.00 to $74.00 and gave the company a buy rating in a research note on Friday, April 26th. Finally, DA Davidson increased their price objective on SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 18th. 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.com, SS&C Technologies presently has a consensus rating of Moderate Buy and an average target price of $70.80.
Check Out Our Latest Research Report on SSNC
SS&C Technologies Trading Up 1.0 %
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last announced its earnings results on Thursday, April 25th. The technology company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. As a group, equities analysts expect that SS&C Technologies will post 4.62 EPS for the current fiscal year.
SS&C Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.41%. SS&C Technologies’s dividend payout ratio is presently 38.25%.
Insider Activity at SS&C Technologies
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 stock was sold at an average price of $60.46, for a total value 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 filing with the SEC, which is available through the SEC website. Insiders sold a total of 32,500 shares of company stock worth $2,027,750 over the last quarter. 15.40% of the stock is owned by corporate 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.
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