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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 has announced that Cowen Digital, part of Cowen Inc., is leveraging SS&C Eze's institutional OEMS platform for digital asset trading solutions. This partnership responds to increasing institutional demand for access to digital assets, aiming to enhance liquidity and market data. Clients can now trade 16 leading tokens through Cowen's platform, benefiting from seamless broker-agnostic access to liquidity and market insights. SS&C's offerings enable comprehensive integration of crypto assets into traditional investment operations, promoting efficiency and global reach.
SS&C Technologies Holdings (Nasdaq: SSNC) has launched the ALPS Intermediate Municipal Bond ETF (MNBD), managed by its subsidiary SS&C ALPS Advisors in partnership with Brown Brothers Harriman & Co. The ETF adopts a bottom-up investment strategy aimed at providing tax-free income and potential capital appreciation through a diversified portfolio of investment-grade municipal bonds. With 100% bottom-up investments, the fund seeks to capitalize on inefficiencies in the municipal bond market, supported by BBH's extensive experience in managing municipal securities.
SS&C GlobeOp Forward Redemption Indicator for May 2022 reached 1.97%, an increase from 1.48% in April, indicating a favorable trend in hedge fund asset retention. This reduction in termination notices is notable, considering a decrease from 2.46% a year ago. The SS&C GlobeOp indicator is vital for assessing investor confidence in hedge funds, calculated from actual redemption notifications. The next update will be published on June 21, 2022.
SS&C Technologies Holdings (Nasdaq: SSNC) will present at JP Morgan's 50th Annual Global Technology, Media and Communications Conference on May 23, 2022, at 9:20 am ET.
The presentation will take place at the Westin Boston Seaport District Hotel in Boston, MA, led by Bill Stone, Chairman and CEO. A webcast of the presentation will be available on SS&C's investor relations website.
SS&C Technologies Holdings has announced that the Black Diamond Wealth Platform has achieved a significant milestone, with assets under management reaching USD $2 trillion, marking a 35% increase since 2021. The platform, utilized by almost 1,900 firms, offers advanced portfolio accounting, performance reporting, and mobile access for clients. CEOs from partner firms commend SS&C for their innovative solutions that drive growth and improve client interactions. SS&C remains committed to enhancing the Black Diamond platform to support its clients' success.
SS&C Technologies has announced its acquisition of 5 M's Minerals Management, LLC, known as MineralWare, for $18 million in cash. This acquisition expands SS&C's offerings into the Energy market and adds $5.5 million in annual recurring revenue, enhancing its asset accounting capabilities. MineralWare, which supports financial institutions and high-net-worth individuals, operates in the Texas market and brings 350 new clients to SS&C, alongside a portfolio of 750,000 mineral assets. The integration aims to streamline operations and offer superior analytics and reporting.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced that Patrick Pedonti, Senior VP and CFO, will present at the 17th Annual Needham Technology & Media Conference on Wednesday, May 18, 2022, at 9:30 am ET. The event will be accessible via webcasts on SS&C's investor relations website. Founded in 1986 and based in Windsor, Connecticut, SS&C provides software and services to over 20,000 organizations in the financial and healthcare sectors, highlighting its reputation for expertise and technology.
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