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SS&C Technologies Analysts Increase Their Forecasts Following Strong Results

Published 14/02/2024, 18:08
© Reuters.  SS&C Technologies Analysts Increase Their Forecasts Following Strong Results
SSNC
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) reported better-than-expected fourth-quarter results on Tuesday.

SS&C Technologies posted adjusted earnings of $1.26 per share, beating market estimates of $1.24 per share. The company’s quarterly adjusted sales came in at $1.41 billion versus expectations of $1.39 billion, according to data from Benzinga Pro.

"SS&C exited 2023 with record adjusted revenue and record adjusted consolidated EBITDA, and we believe we have momentum to start the year," says Bill Stone, Chairman and Chief Executive Officer. "We are seeing opportunities across the financial services industry, and anticipate market conditions to strengthen. And with DomaniRX successfully launching on January 1, 2024, we are seeing opportunities in healthcare."

SS&C Technologies said it expects FY24 adjusted revenue of $5.667 billion to $5.867 billion and adjusted EPS of $4.85 to $5.15.

SS&C Technologies shares gained 4.2% to trade at $62.69 on Wednesday.

These analysts made changes to their price targets on SS&C Technologies after the company reported quarterly results.

  • Needham boosted the price target on SS&C Technologies from $62 to $70. Needham analyst Mayank Tandon maintained a Buy rating.
  • RBC Capital increased the price target on SS&C Technologies from $65 to $72. RBC Capital analyst Daniel Perlin maintained an Outperform rating.

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Latest Ratings for SSNC

DateFirmActionFromTo
Feb 2022Morgan StanleyMaintainsEqual-Weight
Jan 2022Credit SuisseInitiates Coverage OnOutperform
Dec 2021JP MorganUpgradesNeutralOverweight
View More Analyst Ratings for SSNC

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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