Welcome to our dedicated page for SS&C Technologies news (Ticker: SSNC), a resource for investors and traders seeking the latest updates and insights on SS&C Technologies stock.
SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
SS&C GlobeOp Forward Redemption Indicator for April 2023 reports a decrease to 1.93% from 2.53% in March, lower than the ten-year average of 2.56%. This decline indicates a potential improvement in hedge fund asset retention amidst volatile markets and rising interest rates. Bill Stone, CEO of SS&C Technologies, noted that hedge funds remain appealing for investors despite challenging economic conditions. The Forward Redemption Indicator reflects actual redemption notices from hedge fund investors managed by SS&C. Historically, this indicator peaked at 19.27% in November 2008 and has trended downward from previous highs. The next update is scheduled for May 19, 2023.
On April 20, 2023, SS&C Technologies (Nasdaq: SSNC) released its Q2 2023 predictions via the SS&C Intralinks Deal Flow Predictor, highlighting a cautiously optimistic outlook for mergers and acquisitions (M&A) activity despite geopolitical volatility. Early-stage deal activity rose over 10% year-over-year in Q1 2023, mirroring record volumes from 2021.
Regional forecasts predict:
- Asia Pacific: Flat deal volume from Q1 2023, with expected growth of over 10% year-on-year.
- Europe, Middle East, and Africa: Flat compared to Q1, but double-digit growth against Q2 2022.
- Latin America: Growth between 5-10% year-on-year, flat versus Q1.
- North America: A decline in deal volume for Q2, flat QoQ.
Overall, SS&C Intralinks forecasts steady M&A announcements, with early-stage deals six months from public announcement.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) will announce its financial results for the first quarter ended March 31, 2023, after market close on April 27, 2023. The earnings conference call is scheduled for the same day at 5:00 p.m. Eastern Time. Investors can participate by dialing the respective numbers provided for the US and international audiences. An audio replay will be available after 8:00 p.m. on April 27 until May 4, 2023. Founded in 1986 and headquartered in Windsor, Connecticut, SS&C serves over 20,000 organizations across financial services and healthcare, emphasizing expertise, scale, and technology. For more information, visit www.ssctech.com.
The Principal Real Estate Income Fund (PGZ) has announced a monthly distribution of $0.105 per common share, translating to an annualized distribution rate of 11.09%, based on a net asset value share price of $11.36 as of March 30, 2023. The distributions are scheduled for May, June, and July 2023, with payment dates following the record dates. Investors should note that this announcement is not for tax reporting purposes, and the actual tax implications will be communicated in 2024. The investment is subject to risks, including market fluctuations and the potential for loss or reduced returns, particularly due to its exposure to below-investment grade investments.
On March 21, 2023, SS&C Technologies (Nasdaq: SSNC) launched a new financial planning tool within its Black Diamond Wealth Platform, developed in partnership with RightCapital. This integration enhances financial planning capabilities by synchronizing data between the two platforms, allowing for seamless communication between advisors and clients. The tool aims to improve the overall client-advisor relationship by providing a holistic view of a client’s financial plan. SS&C's Black Diamond platform serves over 2,000 advisory firms, showcasing its significance in the wealth management sector.
Crane Holdings, Co. (NYSE: CR) is set to become an independent company named Crane NXT on April 3, 2023, following a successful separation transaction. The company appointed Paul G. Igoe as Senior Vice President, General Counsel, and Secretary, effective March 20, 2023. Igoe, previously with SS&C Technologies and Teradyne, brings extensive experience in the industrial technology sector. Crane NXT will focus on growth strategies in security and authentication technologies. Shareholders will retain 100% equity in both the new Crane NXT and the remaining Crane Company post-separation.
SS&C Technologies (Nasdaq: SSNC) announced that Constellation Insurance, Inc. has selected the SS&C Precision LM platform, designed to enhance efficiency, profitability, and risk control for its $1.6 billion commercial mortgage portfolio. The cloud-based software will support various functions including loan origination, servicing, accounting, and regulatory reporting. Constellation aims to improve operational efficiency and reduce IT impact with this implementation. As of September 30, 2022, Constellation managed over $34 billion in total assets across its insurance subsidiaries.
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