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

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.21-1.27 for the period, compared to the consensus estimate of $1.27. The company issued revenue guidance of $1.42-1.46 billion, compared to the consensus revenue estimate of $1.44 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.

SS&C Technologies Price Performance

Shares of SSNC stock traded up $4.27 during trading on Friday, hitting $72.29. The company had a trading volume of 2,959,802 shares, compared to its average volume of 867,725. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $17.88 billion, a P/E ratio of 28.80 and a beta of 1.38. The stock’s 50-day moving average price is $63.27 and its 200 day moving average price is $62.60. SS&C Technologies has a one year low of $46.61 and a one year high of $73.30.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% 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 prior year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts expect that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s payout ratio is presently 38.25%.

Analyst Ratings Changes

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

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 10,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $63.94, for a total value of $639,400.00. Following the completion of the sale, the director now directly owns 38,000 shares in the company, valued at $2,429,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 32,500 shares of company stock worth $2,027,750 over the last three months. Company 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.