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

SS&C Technologies (NASDAQ:SSNC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.160-1.220 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SSNC. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Citigroup upped their target price on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a report on Thursday, February 15th. DA Davidson restated a buy rating and issued a $78.00 target price on shares of SS&C Technologies in a report on Tuesday, April 16th. StockNews.com upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Finally, TheStreet upgraded SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $70.78.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC traded down $0.23 during trading on Thursday, hitting $61.31. 1,182,505 shares of the company were exchanged, compared to its average volume of 960,833. The company has a market cap of $15.16 billion, a PE ratio of 25.76 and a beta of 1.43. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. The stock has a 50 day moving average of $62.88 and a 200 day moving average of $59.07. 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 released its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. As a group, equities research analysts predict that SS&C Technologies will post 4.61 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) 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.