SS&C Technologies (NASDAQ:SSNC – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $4.93-5.17 for the period, compared to the consensus earnings per share estimate of $5.08. The company issued revenue guidance of $5.695-5.855 billion, compared to the consensus revenue estimate of $5.76 billion. SS&C Technologies also updated its FY 2024 guidance to 4.930-5.170 EPS.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on SSNC. DA Davidson reiterated a buy rating and set a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday, April 16th. UBS Group lifted their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Needham & Company LLC lifted 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. Truist Financial lifted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research note on Wednesday, February 14th. Finally, Citigroup lifted 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. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $71.22.
Read Our Latest Stock Report on SS&C Technologies
SS&C Technologies Stock Performance
SS&C Technologies (NASDAQ:SSNC – Get Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $1.39 billion. As a group, equities analysts anticipate that SS&C Technologies will post 4.61 EPS for the current fiscal year.
SS&C Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is 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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