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 Technologies (Nasdaq: SSNC) successfully hosted its annual client conference, SS&C Deliver 2022, reuniting over 1,300 financial services and healthcare professionals. The conference featured 250 speakers across 120 sessions, emphasizing innovation in technology for these sectors. Key discussions included adapting to hybrid environments, direct-to-consumer strategies, and addressing regulatory challenges. The event concluded with a keynote from investor Kevin O'Leary, and plans for the 2023 conference are already underway for October 22-24 in Austin, Texas.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) will announce its third quarter financial results on October 27, 2022, after market close. The earnings conference call is set for 5:00 p.m. Eastern Time the same day. Investors can access the earnings report via PR Newswire or SS&C's website. An audio replay will be available following the call and can be accessed until November 3, 2022. Established in 1986 and headquartered in Windsor, Connecticut, SS&C serves over 20,000 financial and healthcare organizations globally.
SS&C Technologies Holdings (Nasdaq: SSNC) has partnered with Sanlam Life Insurance Limited, a leading financial services group in Africa, to provide integrated investment management solutions. The collaboration aims to streamline operations for Glacier Financial Solutions, a subsidiary of Sanlam, which manages over R400 billion in assets. This partnership focuses on enhancing client outcomes through advanced investment administration capabilities, aligning with Sanlam's growth goals and digital transformation strategy.
On Oct. 5, 2022, SS&C Technologies (Nasdaq: SSNC) released its Q4 2022 M&A predictions via the Intralinks Deal Flow Predictor. The report indicates stability in M&A activity, maintaining last year's levels while exceeding Q3 2022 by double digits. North America is forecast to see a significant rebound, with growth in Canada and the U.S. Asia Pacific is expected to show a 5-10% increase, while Latin America anticipates over 10% growth. The report underscores a resilient merger landscape despite global challenges, projecting a strong finish for the year.
At the SS&C Deliver Conference, over 800 leaders from financial services and healthcare gathered to explore new SS&C solutions. Key announcements include enhancements to the fund administration platform, SS&C Managed Services, and new tax and treasury management capabilities. The company has invested over $15 billion in R&D over the last decade. Upcoming solutions for Q1 2023 include SS&C Tax BrightLine, a comprehensive tax solution, and SS&C Everywhere, a marketplace for data services. The event featured expert sessions and was headlined by investor Kevin O'Leary.
The Principal Real Estate Income Fund (PGZ) announced monthly distributions of $0.105 per common share, reflecting an annualized distribution rate of 9.64% based on a net asset value of $13.07 as of September 30, 2022. Key distribution dates are set for November, December 2022, and January 2023. The Fund emphasizes that investing involves risks, including potential loss of the investment and market fluctuations affecting net asset value. Shareholders will receive tax characterization information in early 2023.
SS&C Technologies Holdings announced the launch of its intelligent automation portfolio under the SS&C Blue Prism brand at the SS&C Deliver Conference on Oct. 3, 2022. The suite integrates robotic process automation (RPA), business process management (BPM), AI, and no-code offerings to enhance operational efficiency. Key features include Blue Prism® Intelligent Automation Platform, UX Builder, and upcoming enhancements like Capture and Email AI. Over 2,800 customers worldwide utilize SS&C Blue Prism for digitizing operations across various sectors.
SS&C Technologies (Nasdaq: SSNC) announced a partnership with Coinbase to enhance its Eze Investment Suite by integrating Coinbase Prime, an institutional platform for digital assets. This collaboration allows institutional traders to manage crypto trading processes seamlessly, including pre-trade compliance and custody. The partnership aims to provide access to a diverse liquidity pool of digital assets and offers a comprehensive view of crypto investments alongside traditional securities, aligning with the growing institutional interest in digital assets.
SS&C GlobeOp Forward Redemption Indicator for September 2022 is reported at 2.67%, an increase from 2.35% in August. This figure is deemed favorable compared to historical norms, although it exceeds the 2.45% recorded in September 2021. Bill Stone, CEO, noted that redemption notices have remained near all-time low levels, indicating sustained investor commitment despite financial market challenges. The Indicator, crucial for gauging investor sentiment in hedge funds, reflects actual notifications received and will be updated next on October 21, 2022.
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