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 Performance

SSNC stock traded down $0.64 during trading on Thursday, reaching $75.15. The company had a trading volume of 1,365,068 shares, compared to its average volume of 1,025,074. The firm has a 50-day simple moving average of $74.38 and a 200-day simple moving average of $67.61. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 30.20 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. As a group, sell-side analysts expect that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date 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 announced that its board has approved a share repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SSNC has been the subject of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC raised their price target on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada raised their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on 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 transaction, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock valued at $44,821,055 in the last three months. 15.40% of the stock is currently owned by corporate 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.