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

SS&C Technologies (NASDAQ:SSNC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.16-1.22 for the period, compared to the consensus earnings per share estimate of $1.21. The company issued revenue guidance of $1.412-1.452, compared to the consensus revenue estimate of $1.43 billion. SS&C Technologies also updated its FY 2024 guidance to 4.930-5.170 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SSNC. Needham & Company LLC increased their price target on SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a research note on Friday. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a report on Monday, January 29th. Truist Financial upped their price objective on SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a report on Wednesday, February 14th. DA Davidson restated a buy rating and issued a $78.00 price objective on shares of SS&C Technologies in a report on Tuesday, April 16th. Finally, UBS Group upped their price objective on SS&C Technologies from $72.00 to $77.00 and gave the company 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $71.22.

SS&C Technologies Trading Down 0.1 %

Shares of NASDAQ SSNC traded down $0.07 during mid-day trading on Friday, hitting $61.24. 1,583,612 shares of the company traded hands, 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 stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of 24.40 and a beta of 1.43. 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 business has a 50 day moving average of $62.78 and a two-hundred day moving average of $59.15.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, sell-side analysts anticipate that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio is currently 38.25%.

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.