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

SS&C Technologies (NASDAQ:SSNC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.120-5.180 for the period, compared to the consensus 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 research analysts have recently weighed in on the company. Raymond James boosted their price target on 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 target on 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 reiterated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have 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 $75.00.

SS&C Technologies Stock Performance

NASDAQ:SSNC traded down $5.11 during midday trading on Friday, reaching $70.04. 5,279,583 shares of the company traded hands, compared to its average volume of 1,045,626. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $77.02. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The company has a fifty day moving average price of $74.38 and a 200 day moving average price of $67.75.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 1.43%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is 39.84%.

SS&C Technologies declared that its Board of Directors 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the company’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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is 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.