SS&C Technologies (NASDAQ:SSNC – Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.160-1.220 for the period, compared to the consensus estimate of 1.210. The company issued revenue guidance of $1.4 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. SS&C Technologies also updated its FY 2024 guidance to 4.930-5.170 EPS.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SSNC shares. Citigroup increased their price target 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. DA Davidson restated a buy rating and set a $78.00 price target on shares of SS&C Technologies in a research note on Tuesday, April 16th. Needham & Company LLC increased their price target on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a research note on Friday. StockNews.com upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Finally, TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $71.22.
Get Our Latest Research Report on SS&C Technologies
SS&C Technologies Stock Performance
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, equities research analysts forecast that SS&C Technologies will post 4.61 EPS for the current fiscal year.
SS&C Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.
About SS&C Technologies
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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