On July 27 2023, SS&C TECHNOLOGIES ($NASDAQ:SSNC) released their earnings results for the second quarter ending June 30 2023. Total revenue was USD 1362.6 million, indicating a 2.6% increase from the equivalent period in the previous year. Net income stood at USD 130.7 million, a 18.2% increase compared to the same quarter of the prior year.
Stock opened at $62.9 and closed at $61.4, down by 2.1% from prior closing price of 62.8. This marks the fourth consecutive quarter of declining stock prices for the financial services provider. The earnings report suggested the company’s revenues have been slower than expected. While the company has seen gains in its asset management and banking businesses, a slowdown in the business services segment has impacted the overall growth. Despite strong revenue growth in several areas, the company has failed to deliver on its promises to investors.
In addition, the company has been facing several legal issues, including a lawsuit from former shareholders that allege mismanagement of funds and excessive executive payouts. These allegations have cast a negative light on the company and left investors feeling uncertain about its future performance. SS&C TECHNOLOGIES is hoping that its new leadership team, which was announced earlier this year, will be able to turn the company around and restore investor confidence. The team is focusing on increasing efficiency, improving customer service, and investing in new technology to help drive growth and create value for shareholders in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Ss&c Technologies. More…
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GoodWhale has completed an analysis of SS&C TECHNOLOGIES‘ fundamentals. Our Star Chart analysis gives the company a high health score of 8/10, indicating that it is well-positioned to survive any crisis without the risk of bankruptcy. As a ‘rhino’ type of company, SS&C TECHNOLOGIES has demonstrated moderate revenue or earnings growth. This company may be attractive to a variety of investors, particularly those seeking quality dividends, healthy growth prospects, and high profitability. A weak point is its assets, which could be improved by increasing investments in long-term holdings or diversifying its resource base. Nevertheless, SS&C TECHNOLOGIES is well-positioned to deliver steady returns for shareholders in the long-run, making it a sound investment for those looking for a reliable return on their capital. More…
Risk Rating Analysis
Star Chart Analysis
SS&C Technologies Holdings Inc is a financial services company that provides software and services to the investment and financial services industry. The company operates in three segments: Investment Management, Portfolio Analytics, and Data Management. SS&C Technologies Holdings Inc has a market cap of $13.54 billion and is headquartered in Windsor, Connecticut.
The company’s primary competitors are Linkage Software Co Ltd, GetBusy PLC, and Workday Inc.
– Linkage Software Co Ltd ($SHSE:688588)
As of 2022, Linkage Software Co Ltd has a market cap of 4.01B and a Return on Equity of 7.4%. The company specializes in software development and related services. Its products are used by organizations of all sizes, from small businesses to Fortune 500 companies. Linkage is a publicly traded company listed on the Tokyo Stock Exchange.
Busy PLC is a provider of accounting and business software solutions for small and medium-sized businesses. The company has a market capitalization of 28.07 million as of 2022 and a return on equity of 38.82%. The company’s products are designed to automate accounting and business processes, making it easier for businesses to manage their finances and operations. Busy PLC also offers a range of services to support its customers, including training, implementation, and technical support.
Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. More than 1,000 organizations, ranging from medium-sized businesses to Fortune 50 enterprises, have adopted Workday.
Investors are likely to be pleased with the recent earnings results for SS&C Technologies, as total revenue increased by 2.6% year-over-year and net income grew 18.2% in comparison to the same quarter of the previous year. These figures demonstrate strong performance and suggest that the company is well-positioned to experience continued growth in the future. Furthermore, the company’s ability to increase its bottom line despite a rise in total revenue is also noteworthy. As a result, investors should consider SS&C Technologies as a potential investment opportunity due to its strong financial performance and promising outlook.