SS&C Technologies (NASDAQ:SSNC) Releases Earnings Results, Meets Expectations

SS&C Technologies (NASDAQ:SSNCGet Rating) issued its quarterly earnings results on Thursday. The technology company reported $1.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.25, MarketWatch Earnings reports. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. SS&C Technologies had a return on equity of 21.10% and a net margin of 15.84%. SS&C Technologies’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. SS&C Technologies updated its Q2 guidance to $1.13-1.19 EPS and its FY22 guidance to $4.99-5.21 EPS.

SSNC opened at $64.66 on Friday. SS&C Technologies has a 52 week low of $63.68 and a 52 week high of $84.85. The business has a fifty day simple moving average of $73.97 and a 200-day simple moving average of $77.09. The firm has a market cap of $16.49 billion, a P/E ratio of 21.70 and a beta of 1.56. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.95.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. SS&C Technologies’s dividend payout ratio is currently 26.85%.

SSNC has been the subject of several recent research reports. Morgan Stanley boosted their price target on SS&C Technologies from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 11th. Raymond James dropped their target price on SS&C Technologies from $95.00 to $93.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Thursday. DA Davidson boosted their target price on SS&C Technologies from $88.00 to $95.00 in a research note on Wednesday, January 5th. Finally, Credit Suisse Group started coverage on SS&C Technologies in a research note on Friday, January 7th. They set an “outperform” rating and a $105.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $91.89.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KB Financial Partners LLC acquired a new stake in SS&C Technologies in the fourth quarter valued at $30,000. Raleigh Capital Management Inc. purchased a new position in shares of SS&C Technologies during the fourth quarter worth about $33,000. Penserra Capital Management LLC grew its holdings in shares of SS&C Technologies by 25.0% during the fourth quarter. Penserra Capital Management LLC now owns 1,001 shares of the technology company’s stock worth $82,000 after buying an additional 200 shares during the last quarter. Colony Group LLC grew its holdings in shares of SS&C Technologies by 5.0% during the fourth quarter. Colony Group LLC now owns 3,626 shares of the technology company’s stock worth $297,000 after buying an additional 174 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of SS&C Technologies during the fourth quarter worth about $366,000. Institutional investors and hedge funds own 96.85% of the company’s stock.

About SS&C Technologies (Get Rating)

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.

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Earnings History for SS&C Technologies (NASDAQ:SSNC)

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