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

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

SS&C Technologies Trading Down 0.8 %

Shares of NASDAQ SSNC traded down $0.64 on Thursday, reaching $75.15. 1,365,068 shares of the company traded hands, compared to its average volume of 1,025,074. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $77.02. The company has a 50 day moving average of $74.43 and a 200 day moving average of $67.66. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $18.59 billion, a PE ratio of 29.94 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion during 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%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is 39.84%.

SS&C Technologies announced that its board has initiated a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased 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 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 19,000 shares of the 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 completion of 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 filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael Jay Zamkow sold 19,000 shares of the 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 completion of 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of the 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 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 disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 in the last 90 days. 15.40% of the stock is owned by company insiders.

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.