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

SS&C Technologies (NASDAQ:SSNC) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.29-1.35 for the period, compared to the consensus EPS 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 FY 2024 guidance to 5.120-5.180 EPS.

SS&C Technologies Stock Down 6.8 %

SSNC traded down $5.11 during trading on Friday, reaching $70.04. 5,279,583 shares of the stock traded hands, compared to its average volume of 1,045,626. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $77.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50-day simple moving average is $74.38 and its two-hundred day simple moving average is $67.71.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share 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 company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies Increases Dividend

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

SS&C Technologies announced that its Board of Directors has authorized 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 buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last three months. Company insiders own 15.40% of the company’s stock.

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.