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

SS&C Technologies (NASDAQ:SSNC) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.29-1.35 for the period, compared to the consensus earnings per share estimate of $1.36. The company issued revenue guidance of $1.46-1.50 billion, compared to the consensus revenue estimate of $1.47 billion. SS&C Technologies also updated its FY24 guidance to $5.12-5.18 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SSNC. Needham & Company LLC increased their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of “Moderate Buy” and an average price target of $73.75.

SS&C Technologies Trading Down 0.8 %

SSNC stock traded down $0.64 during midday trading on Thursday, reaching $75.15. The company’s stock had a trading volume of 1,359,528 shares, compared to its average volume of 1,025,047. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day simple moving average of $74.38 and a two-hundred day simple moving average of $67.61. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $77.02. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 30.20 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company earned $0.96 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s 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 sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 over the last three months. 15.40% of the stock is currently 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.