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

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

SS&C Technologies stock traded down $0.07 during mid-day trading on Friday, reaching $61.24. 1,583,612 shares of the stock traded hands, compared to its average volume of 961,173. The stock has a market capitalization of $15.14 billion, a PE ratio of 24.40 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $65.86. The business’s 50-day moving average is $62.78 and its 200-day moving average is $59.15.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (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 analyst estimates of $1.39 billion. As a group, sell-side analysts predict that SS&C Technologies will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s dividend payout ratio is presently 38.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SSNC. TheStreet raised SS&C Technologies from a c+ rating to a b rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price objective on SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a report on Monday, January 29th. 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 report on Friday. Finally, UBS Group increased their price target on SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies has an average rating of Moderate Buy and a consensus 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.