SS&C Technologies (NASDAQ:SSNC) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SS&C Technologies (NASDAQ:SSNC) released its quarterly earnings data on Thursday. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.01, FiscalAI reports. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. SS&C Technologies had a net margin of 13.16% and a return on equity of 21.20%.

SS&C Technologies Stock Up 2.8%

Shares of NASDAQ:SSNC traded up $2.45 during mid-day trading on Thursday, hitting $89.54. 2,769,887 shares of the company traded hands, compared to its average volume of 2,126,582. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The stock has a market cap of $21.01 billion, a P/E ratio of 25.73 and a beta of 1.09. The stock has a 50-day moving average price of $81.28 and a two-hundred day moving average price of $73.49. SS&C Technologies has a 12-month low of $61.40 and a 12-month high of $89.93.

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. SS&C Technologies’s payout ratio is presently 34.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group reissued a “buy” rating and set a $101.00 target price on shares of SS&C Technologies in a report on Wednesday, September 9th. BWS Financial restated a “buy” rating on shares of SS&C Technologies in a research report on Wednesday, September 9th. Weiss Ratings raised SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Royal Bank Of Canada raised their target price on shares of SS&C Technologies from $92.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.62.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.