SS&C Technologies (NASDAQ:SSNC – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.16-1.22 for the period, compared to the consensus 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 FY 2024 guidance to 4.930-5.170 EPS.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on SSNC shares. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a research report on Monday, January 29th. DA Davidson reaffirmed a buy rating and issued a $78.00 price target on shares of SS&C Technologies in a research report on Tuesday, April 16th. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Truist Financial increased their price objective on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a research note on Wednesday, February 14th. Finally, Citigroup upped their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SS&C Technologies has a consensus rating of Moderate Buy and a consensus target price of $71.22.
Get Our Latest Stock Report on SS&C Technologies
SS&C Technologies Stock Performance
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, hitting analysts’ consensus estimates of $1.13. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. Research analysts expect that SS&C Technologies will post 4.61 EPS for the current fiscal year.
SS&C Technologies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors 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 was Thursday, February 29th. SS&C Technologies’s dividend payout ratio is presently 38.25%.
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.
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