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

SS&C Technologies (NASDAQ:SSNC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $4.93-5.17 for the period, compared to the consensus EPS 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 Stock Performance

SSNC traded down $0.07 on Friday, reaching $61.24. The stock had a trading volume of 1,583,612 shares, compared to its average volume of 961,173. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $65.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $62.78 and its two-hundred day moving average price is $59.15. The company has a market cap of $15.14 billion, a P/E ratio of 24.40 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 for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Sell-side analysts forecast that SS&C Technologies will post 4.61 earnings per share 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 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 is currently 38.25%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted their target price 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. Royal Bank of Canada boosted their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. DA Davidson reissued a buy rating and set a $78.00 target price on shares of SS&C Technologies in a research note on Tuesday, April 16th. UBS Group boosted 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. Finally, StockNews.com raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $71.22.

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.