SS&C Technologies (NASDAQ:SSNC) Issues Q4 2024 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.290-1.350 for the period, compared to the consensus EPS estimate of 1.350. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. SS&C Technologies also updated its FY 2024 guidance to 5.120-5.180 EPS.

SS&C Technologies Stock Down 6.8 %

Shares of SSNC traded down $5.11 during mid-day trading on Friday, reaching $70.04. The company’s stock had a trading volume of 5,279,583 shares, compared to its average volume of 1,045,626. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. The business has a fifty day moving average of $74.38 and a 200 day moving average of $67.71.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. As a group, analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

SS&C Technologies declared that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SSNC has been the topic of several research analyst reports. Raymond James boosted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday. Royal Bank of Canada lifted their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, DA Davidson restated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares in the company, valued at $25,144,958.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock valued at $44,821,055 over the last 90 days. 15.40% of the stock is currently owned by company 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.