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

SS&C Technologies (NASDAQ:SSNC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 5.120-5.180 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC increased their target price on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada increased their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson restated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.75.

SS&C Technologies Stock Performance

NASDAQ:SSNC traded down $0.64 during mid-day trading on Thursday, hitting $75.15. The stock had a trading volume of 1,365,068 shares, compared to its average volume of 1,025,074. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $77.02. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 30.20 and a beta of 1.38. The company’s 50 day simple moving average is $74.38 and its 200 day simple moving average is $67.61. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.96 EPS. SS&C Technologies’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies announced that its Board of Directors has initiated a stock buyback program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock worth $44,821,055 over the last three months. 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.