On July 25, SS&C Technologies Holdings Inc rose 10.41% in regular trading, trading at $73.92/share, with turnover of $119 million. The surge was driven by the company's Q2 earnings release that significantly exceeded market expectations, coupled with an upward revision to full-year guidance.
The company reported Q2 adjusted EPS of $1.76, beating the consensus estimate of $1.68 by 4.76% and representing a 21% year-over-year increase. Revenue came in at $1.70 billion versus the $1.66 billion estimate, reflecting 10.4% year-over-year growth. For Q3, the company guided adjusted EPS of $1.73 to $1.79, above the Street estimate of $1.72. Full-year adjusted EPS guidance was raised to $6.93-$7.25 from the prior range of $6.74-$7.06, on adjusted revenue of $6.67-$6.83 billion.
Additionally, RBC raised its price target on the stock from $89 to $92, maintaining an Outperform rating. The average analyst target stands at $92.63. SS&C Technologies is a leading financial services software and outsourcing provider serving institutional asset management, alternative investments, brokerage, and healthcare sectors.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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