SS&C Technologies (NASDAQ:SSNC) Updates Q3 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.210-1.270 for the period, compared to the consensus earnings per share estimate of 1.270. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

SS&C Technologies Stock Performance

SSNC stock traded up $4.27 during mid-day trading on Friday, reaching $72.29. The company had a trading volume of 2,925,453 shares, compared to its average volume of 967,049. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $17.88 billion, a P/E ratio of 28.94 and a beta of 1.38. SS&C Technologies has a one year low of $46.61 and a one year high of $73.30. The stock’s 50-day simple moving average is $63.10 and its two-hundred day simple moving average is $62.52.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. SS&C Technologies had a return on equity of 17.10% and a net margin of 11.46%. Research analysts anticipate that SS&C Technologies will post 4.62 EPS for the current year.

SS&C Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. DA Davidson raised their price target on SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a report on Thursday, July 18th. Jefferies Financial Group raised their price target on SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a report on Monday, April 29th. Royal Bank of Canada raised their price target on SS&C Technologies from $72.00 to $75.00 and gave the company an outperform rating in a report on Friday. Finally, Needham & Company LLC raised their price target on SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $71.80.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 10,000 shares of SS&C Technologies stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $63.94, for a total transaction of $639,400.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $2,429,720. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 32,500 shares of company stock valued at $2,027,750 over the last three months. Company 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.