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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 Technologies Holdings (SSNC) has announced an initial agreement with Insignia Financial to provide superannuation member administration services. Upon finalizing a binding agreement, over 1,000 Insignia employees across seven Australian offices will transfer to SS&C. The team will utilize SS&C's technology to automate and streamline operations while serving Insignia's 1.1 million superannuation fund members.
The collaboration aims to enhance member experience through modern technology while offering cost efficiencies. This partnership positions SS&C to become a leading superannuation administration provider in Australia, with Insignia becoming their largest Australian client.
SS&C Technologies Holdings (Nasdaq: SSNC) announced its participation in Abu Dhabi Finance Week, scheduled for December 9-12 on Al Maryah Island. Bill Stone, Chairman and CEO, will participate in the "Inside the Hedge Fund Industry" panel alongside Aron Landy of Brevan Howard and Leda Braga of Systematica Investments on December 10 at 10:40 a.m.
The event is expected to attract over 18,000 finance professionals from more than 100 countries. CNBC anchor Dan Murphy will moderate the panel discussion. The organizers will make a recording of the panel available after the event.
SS&C Technologies Holdings (Nasdaq: SSNC) announced its participation in two major investor conferences. Bill Stone, CFO, will present at the UBS Global Technology and AI Conference in Scottsdale, Arizona on December 5th, 2024 at 12:15 PM MT. Additionally, Brian Schell, CFO, will present at The Nasdaq 51st Investor Conference in London on December 10th at 3:00 PM GMT. Both presentations will be accessible via webcast on SS&C's investor relations website.
SS&C Technologies Holdings (Nasdaq: SSNC) has issued a correction regarding upcoming investor conference presentations. Bill Stone, Chairman and Chief Executive Officer (previously incorrectly listed as CFO), will present at the UBS Global Technology and AI Conference in Scottsdale, Arizona on December 5th, 2024 at 12:15 PM MT. Additionally, Brian Schell, Chief Financial Officer, will present at The Nasdaq 51st Investor Conference in London on December 10th at 3:00 PM GMT. Both presentations will be available via webcast on SS&C's investor relations website.
SS&C Blue Prism has been recognized as a Leader in the Everest Group Process Orchestration Products PEAK Matrix® Assessment 2024 for the second consecutive year. The recognition highlights the company's product capabilities, unified platform approach, investments in product innovation and generative AI, and strong partnership ecosystem. The assessment evaluated 24 technology providers across multiple dimensions, including hybrid workforce management capabilities, vision and strategy, implementation and support, and client base diversity.
SS&C Technologies Holdings (Nasdaq: SSNC) announced that TIFF Investment Management has expanded its partnership to include Form PF reporting services for over 40 private funds. This expansion addresses new SEC reporting requirements, making compliance more complex. TIFF, which already uses SS&C for tax services and manager research management, will benefit from SS&C's comprehensive Form PF solution that includes data mapping, aggregation, validated regulatory book of records, report production, and direct SEC filing capabilities.
SS&C GlobeOp's Forward Redemption Indicator for November 2024 reached 2.91%, up from 2.23% in October but lower than the 3.49% recorded last year and the five-year November average of 3.52%. The indicator represents redemption notices from hedge fund investors on SS&C GlobeOp's platform divided by assets under administration. The SS&C GlobeOp Hedge Fund Performance Index shows a flash estimate of 0.25% for the current month, with year-to-date returns at 6.80% and last 12-month performance at 11.15%.
SS&C Technologies (Nasdaq: SSNC) has declared a quarterly dividend of $0.25 per share. The dividend will be paid on December 16, 2024, to stockholders of record as of December 2, 2024. SS&C is a global provider of services and software for the financial services and healthcare industries, serving approximately 20,000 organizations worldwide, from large enterprises to mid-market firms.
SS&C Technologies released findings from a survey of 213 financial services industry leaders, revealing growing AI adoption trends. The survey shows that 69% of firms expect AI benefits within a year, with 39% already seeing measurable results. While 82% of firms use AI at some level, only 13% report organization-wide adoption.
Key findings indicate that 65% of firms have C-suite executives leading AI initiatives, and 84% have developed or are developing AI policies. Top use cases include data analysis (52%), routine task automation (34%), and content development (29%). Major challenges include data privacy (70%), regulatory compliance (52%), and talent shortage (39%).
SS&C Technologies (Nasdaq: SSNC) announced that Rahul Kanwar, President and Chief Operating Officer, will present at the RBC Capital Markets Global Technology, Internet, Media, and Telecommunications Conference. The presentation is scheduled for Wednesday, November 20th, 2024, at 11:20 AM ET at the InterContinental New York Barclay in New York. The event will be accessible via webcast on SS&C's investor relations website.
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