SS&C Technologies (NASDAQ:SSNC – Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.21-1.27 for the period, compared to the consensus estimate of $1.27. The company issued revenue guidance of $1.42-1.46 billion, compared to the consensus revenue estimate of $1.44 billion. SS&C Technologies also updated its FY 2024 guidance to 4.980-5.220 EPS.
Analyst Upgrades and Downgrades
Several research firms have commented on SSNC. DA Davidson raised their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a report on Thursday, July 18th. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a buy rating in a report on Friday, April 26th. Finally, Jefferies Financial Group lifted their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $70.80.
Get Our Latest Stock Report on SSNC
SS&C Technologies Stock Up 1.0 %
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. As a group, equities research analysts expect that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.
SS&C Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.41%. SS&C Technologies’s payout ratio is 38.25%.
Insider Transactions at SS&C Technologies
In related news, Director Michael Jay Zamkow sold 7,500 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the transaction, the director now owns 41,576 shares in the company, valued at $2,513,684.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 32,500 shares of company stock worth $2,027,750 in the last quarter. 15.40% of the stock is currently owned by corporate insiders.
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.
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