SS&C Technologies (NASDAQ:SSNC) Releases Q4 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.290-1.350 for the period, compared to the consensus EPS estimate of 1.350. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

SS&C Technologies Trading Down 6.8 %

NASDAQ SSNC traded down $5.11 on Friday, reaching $70.04. The company had a trading volume of 5,279,583 shares, compared to its average volume of 1,045,626. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $77.02. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. The stock’s 50 day moving average is $74.38 and its 200-day moving average is $67.75.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, beating 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%. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities analysts predict that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 3rd. 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. SS&C Technologies’s payout ratio is currently 39.84%.

SS&C Technologies declared that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction 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 sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 over the last quarter. 15.40% of the stock is currently owned by company insiders.

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.