SS&C Technologies Analysts Raise Their Forecasts After Strong Results – SS&C Techs Hldgs (NASDAQ:SSNC)

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

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

“SS&C exited 2023 with record adjusted revenue and record adjusted consolidated EBITDA, and we believe we have the momentum to start the year,” says Bill Stone, President and Chief Executive Officer. “We are seeing opportunities in the financial services sector and expect market conditions to strengthen. And with the successful launch of DomaniRX on January 1, 2024, we are seeing opportunities in the healthcare sector.”

SS&C Technologies said it expects fiscal 24 adjusted revenue of $5.667 billion to $5.867 billion and adjusted earnings per share 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 raised their price target on SS&C Technologies from $62 to $70. Needham analyst Mayank Tandon maintained a Buy rating.
  • RBC Capital raised their price target on SS&C Technologies from $65 to $72. RBC Capital analyst Daniel Perlin maintained an Outperform rating.

Also check this: Retractable Technologies and 2 other stocks under $5 are buying insiders

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *