SS&C Technologies (NASDAQ:SSNC) Issues Q2 Earnings Guidance

SS&C Technologies (NASDAQ:SSNC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.16-1.22 for the period, compared to the consensus earnings per share estimate of $1.21. The company issued revenue guidance of $1.412-1.452, compared to the consensus revenue estimate of $1.43 billion. SS&C Technologies also updated its FY24 guidance to $4.93-5.17 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SSNC shares. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Royal Bank of Canada boosted their price target on SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Needham & Company LLC increased their price objective on SS&C Technologies from $62.00 to $70.00 and gave the company a buy rating in a report on Wednesday, February 14th. Finally, Truist Financial raised their price target on SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of Moderate Buy and a consensus target price of $70.78.

SS&C Technologies Stock Performance

SSNC traded down $0.23 during trading on Thursday, reaching $61.31. 1,182,505 shares of the company’s stock were exchanged, compared to its average volume of 960,181. The stock has a market capitalization of $15.16 billion, a P/E ratio of 25.45 and a beta of 1.43. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86. The company’s fifty day simple moving average is $62.88 and its 200-day simple moving average is $59.07. 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 (NASDAQ:SSNC) last released its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.13. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. As a group, research analysts predict that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 1.57%. SS&C Technologies’s dividend payout ratio (DPR) is presently 40.34%.

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.