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) has been selected by Cauris, a debt investment manager, to provide administration services for its new private debt fund aimed at expanding financial inclusion in the Global South. The partnership focuses on using innovative solutions and DeFi lending protocols to support multi-currency funds, including those financed by stable coins. This move highlights SS&C's commitment to ESG efforts and its capability to accommodate advanced financing structures.
SS&C Technologies (Nasdaq: SSNC) announced the extension of its partnership with Liontrust Asset Management, following Liontrust's acquisition of Majedie Asset Management. Liontrust will utilize SS&C's Eze Investment Suite to manage approximately GBP38.5 billion in assets. This collaboration will involve over 20 users transitioning to the Eze platform, enhancing Liontrust's asset management capabilities. Since adopting Eze in 2016, Liontrust has grown its assets by more than GBP30 billion. The recent acquisition added an additional GBP5.2 billion in assets under management.
SS&C Technologies Holdings reported Q1 2022 GAAP revenue of $1,295.0 million, a 5.0% increase from Q1 2021. Fully diluted GAAP EPS was $0.64, down 1.5%. Adjusted revenue rose 4.9% to $1,296.2 million, with adjusted EPS of $1.25, up 5.9%. Organic growth reached 4.3%, primarily from the Alternatives, Intralinks, and Advent units. However, healthcare revenue declined 15.5%. The company also repurchased 2.3 million shares at $75.22 each, totaling $170.9 million.
SS&C Technologies (Nasdaq: SSNC) released findings from its Blue Prism research, revealing that 67% of businesses have increased productivity in the last 12-18 months. However, 50% of enterprise organizations face challenges in maintaining these productivity levels, primarily due to rising operational costs and talent shortages. The study, which surveyed over 1,000 decision-makers across Europe and North America, indicated that 69% of enterprises plan to implement intelligent automation (IA) to enhance productivity. The insights were shared ahead of the upcoming Blue Prism World 2022 event.
RiverNorth Opportunities Fund has declared a preferred dividend for Q2 2022. Key details include an ex-dividend date of May 2, 2022, a record date of May 3, 2022, and a payable date of May 16, 2022. The dividend is for the 6.00% Series A Perpetual Preferred Stock (RIVPRA), amounting to $0.1042 per share, representing a partial distribution from the original issue date of April 20, 2022. The Fund emphasizes the potential risks associated with its investment objectives and distribution variability.
SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) reported a Forward Redemption Indicator for April 2022 at 1.48%, down from 1.92% in March. This marks the lowest redemption rate for April since the indicator's inception in 2008. The decrease in redemption notices, compared to 2.07% a year ago, indicates increasing investor confidence in hedge fund managers amidst market volatility. The next report is scheduled for May 20, 2022.
SS&C Technologies will report its first quarter 2022 financial results on April 28, 2022, after market close. An earnings conference call is scheduled for the same day at 5:00 p.m. Eastern Time. Details for the call are provided, including dial-in numbers for participants and an audio replay available from 8:00 p.m. on April 28 until midnight May 5. Founded in 1986 and headquartered in Windsor, Connecticut, SS&C serves 18,000 organizations in the financial and healthcare sectors, emphasizing its scale and technological solutions.
SS&C Technologies (Nasdaq: SSNC) has renewed its long-term transfer agency relationship with Rathbone Funds, a U.K. asset manager managing nearly £13 billion. Rathbone Funds has been partnered with SS&C for 15 years, emphasizing the importance of technology in enhancing customer experience. The extension includes leveraging SS&C's Adviser OnLine for better portfolio access and commission reporting. SS&C manages over £11 billion in assets for Rathbone, showcasing consistent growth even during the pandemic.
FAQ
What is the current stock price of SS&C Technologies (SSNC)?
What is the market cap of SS&C Technologies (SSNC)?
What does SS&C Technologies Inc. specialize in?
Where is SS&C Technologies headquartered?
Who are the primary clients of SS&C Technologies?
What significant acquisitions has SS&C Technologies made recently?
What is SS&C GlobeOp?
What recent partnership has SS&C Technologies announced?
How much in assets do SS&C's clients manage?
What is SS&C Intralinks?
How did SS&C perform financially in 2023?
What recent regulatory approval has SS&C Technologies received?
