SS&C Technologies (NASDAQ:SSNC – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.210-1.270 for the period, compared to the consensus EPS estimate of 1.270. 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 4.980-5.220 EPS.
Analysts Set New Price Targets
Several research firms have commented on SSNC. Needham & Company LLC boosted their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday, April 26th. DA Davidson boosted their price target on shares of SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group boosted their price target on shares of SS&C Technologies from $54.00 to $61.00 and gave the stock 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $70.80.
Get Our Latest Analysis on SSNC
SS&C Technologies Stock Up 1.0 %
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. Analysts anticipate that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.
SS&C Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s dividend payout ratio is currently 38.25%.
Insiders Place Their Bets
In other SS&C Technologies news, Director Michael Jay Zamkow sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $63.94, for a total transaction of $639,400.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $2,429,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 32,500 shares of company stock worth $2,027,750. 15.40% of the stock is owned by insiders.
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.
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