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

SS&C Technologies (NASDAQ:SSNC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.21-1.27 for the period, compared to the consensus EPS 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 NASDAQ SSNC traded up $0.69 during mid-day trading on Thursday, reaching $68.02. 1,255,586 shares of the company traded hands, compared to its average volume of 953,138. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $69.49. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $16.82 billion, a PE ratio of 27.10 and a beta of 1.38. The stock has a fifty day simple moving average of $63.02 and a 200-day simple moving average of $62.48.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. Equities research analysts anticipate 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. Investors of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s payout ratio is 38.25%.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of research reports. Needham & Company LLC raised their target price on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday, April 26th. DA Davidson raised their target price 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. Finally, Jefferies Financial Group raised their target price 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. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of Moderate Buy and a consensus price target of $70.80.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were 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 owns 38,000 shares in the company, valued at approximately $2,429,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 32,500 shares of company stock valued at $2,027,750. 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.