SS&C Technologies (NASDAQ:SSNC) Issues Q2 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.160-1.220 for the period, compared to the consensus EPS estimate of 1.210. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. SS&C Technologies also updated its FY 2024 guidance to 4.930-5.170 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a report on Wednesday, February 14th. DA Davidson restated a buy rating and set a $78.00 target price on shares of SS&C Technologies in a report on Tuesday, April 16th. Needham & Company LLC boosted their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday. Truist Financial boosted their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a report on Wednesday, February 14th. Finally, UBS Group boosted their price objective on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Two equities research 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 stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $71.22.

SS&C Technologies Stock Down 0.1 %

Shares of SS&C Technologies stock traded down $0.07 during 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. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 24.40 and a beta of 1.43. The firm’s fifty day moving average is $62.78 and its 200-day moving average is $59.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. On average, analysts anticipate that SS&C Technologies will post 4.61 EPS for the current 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

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.