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

SS&C Technologies (NASDAQ:SSNC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.93-5.17 for the period, compared to the consensus estimate of $5.08. The company issued revenue guidance of $5.695-5.855 billion, compared to the consensus revenue estimate of $5.76 billion. SS&C Technologies also updated its FY 2024 guidance to 4.930-5.170 EPS.

SS&C Technologies Price Performance

SSNC stock traded down $0.07 during midday trading on Friday, reaching $61.24. The company had a trading volume of 1,583,612 shares, compared to its average volume of 961,173. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86. The firm has a 50-day moving average price of $62.78 and a 200-day moving average price of $59.15. The company has a market capitalization of $15.14 billion, a P/E ratio of 24.40 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. UBS Group lifted their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Truist Financial increased their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a research report on Wednesday, February 14th. StockNews.com upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a research report on Monday, January 29th. Finally, TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $71.22.

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.