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

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

SS&C Technologies Stock Down 0.4 %

Shares of NASDAQ SSNC traded down $0.23 during midday trading on Thursday, reaching $61.31. 1,182,505 shares of the company’s stock traded hands, compared to its average volume of 960,833. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $62.88 and its 200-day simple moving average is $59.07. SS&C Technologies has a one year low of $46.61 and a one year high of $65.86. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 25.76 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, analysts predict that SS&C Technologies will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued 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 is currently 40.34%.

Analysts Set New Price Targets

Several research analysts have commented on SSNC shares. Needham & Company LLC boosted their price target on shares of SS&C Technologies from $62.00 to $70.00 and gave the stock a buy rating in a report on Wednesday, February 14th. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. DA Davidson reiterated a buy rating and set a $78.00 price target on shares of SS&C Technologies in a research note on Tuesday, April 16th. Truist Financial increased their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research note on Wednesday, February 14th. Finally, Citigroup increased their price target on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $70.78.

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.