SS&C Technologies (NASDAQ:SSNC – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.930-5.170 for the period, compared to the consensus estimate of 5.080. The company issued revenue guidance of $5.7 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion. SS&C Technologies also updated its FY24 guidance to $4.93-5.17 EPS.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. DA Davidson reissued a buy rating and issued a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday, April 16th. UBS Group lifted their price target on SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Citigroup lifted their price target on SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price target on SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, Truist Financial lifted their price target on SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies has a consensus rating of Moderate Buy and an average price target of $70.78.
Check Out Our Latest Analysis on SSNC
SS&C Technologies Price Performance
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, hitting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Analysts expect that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.
SS&C Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 1.57%. SS&C Technologies’s payout ratio is currently 40.34%.
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.
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