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

SS&C Technologies (NASDAQ:SSNC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.120-5.180 for the period, compared to the consensus EPS estimate of 5.160. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $5.12-5.18 EPS.

SS&C Technologies Price Performance

Shares of SSNC stock traded down $5.11 during midday trading on Friday, reaching $70.04. 5,279,461 shares of the company traded hands, compared to its average volume of 1,045,626. The firm has a market cap of $17.32 billion, a PE ratio of 27.77 and a beta of 1.38. 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 firm’s 50 day simple moving average is $74.43 and its two-hundred day simple moving average is $67.66. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $77.02.

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

SS&C Technologies Increases Dividend

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

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 in the last three months. 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.