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

SS&C Technologies (NASDAQ:SSNC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $5.12-5.18 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SSNC. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, 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 research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock traded down $0.64 on Thursday, hitting $75.15. The company’s stock had a trading volume of 1,365,068 shares, compared to its average volume of 1,025,074. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a fifty day moving average price of $74.43 and a 200-day moving average price of $67.66. The company has a market capitalization of $18.59 billion, a P/E ratio of 29.94 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that SS&C Technologies will post 4.66 earnings per share 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 given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. SS&C Technologies’s payout ratio is currently 39.84%.

SS&C Technologies declared that its board has initiated a share buyback plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies 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 value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SS&C Technologies 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 value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the transaction, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

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.