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.
Principal Real Estate Income Fund, traded as PGZ, announces a 5.00% increase in monthly distributions to $0.105 per share starting May, reflecting an annualized distribution rate of 7.37% based on the current net asset value of $17.09 as of March 29, 2022. Key distribution dates include Ex Date on May 12, Record Date on May 13, and Payable Date on May 31. The Fund highlights that investments carry risks, including potential loss of capital, and should be considered for long-term objectives only.
SS&C Technologies (NASDAQ: SSNC) announced an extended partnership with South African insurer Old Mutual Limited, which manages approximately ZAR 800 billion in assets. Old Mutual has adopted SS&C Chorus BPM, a cloud-based process automation solution. This transition is aimed at enhancing agility and customer service through improved processing and communication. The collaboration marks a significant milestone in their 30-year relationship, emphasizing SS&C's commitment to digital transformation solutions for its clients.
SS&C Technologies Holdings has successfully completed its acquisition of Hubwise Holdings Limited in an all-cash transaction. Hubwise, a regulated B2B investment platform, serves advisers and self-directed D2C propositions. The deal adds 58 employees and 51 customers in the U.K., enhancing SS&C's capabilities in the retail investment market. Bill Stone, CEO of SS&C, emphasized the strategic importance of this acquisition, which aims to leverage SS&C's scale and digital services to create efficient multi-asset strategies.
SS&C GlobeOp Forward Redemption Indicator for March 2022 reached 1.92%, an increase from 1.79% in February. This represents a significant decrease from the 2.49% reported in March 2021, marking the lowest March redemptions since the Indicator's launch in 2008. The improved redemption metrics suggest rising investor confidence amidst current market volatility influenced by inflation and Federal Reserve policies. The next publication is set for April 22, 2022.
On March 16, 2022, SS&C Technologies announced the completion of its acquisition of Blue Prism Group Plc for approximately $1.6 billion. This acquisition positions SS&C as a leader in robotics process automation (RPA) and enhances its offerings in financial services and healthcare. The new unit, SS&C Blue Prism, will report to Managing Director Mike Megaw. With over 2,000 clients globally, Blue Prism's integration is expected to enrich SS&C's capabilities and expand its market reach.
SS&C Technologies (Nasdaq: SSNC) announced a long-term partnership with AMP, a major Australian wealth management company, to enhance the North investment platform. This collaboration aims to improve technology services, focusing on automation and efficiency for advisers and clients. The Bluedoor technology will provide real-time data and streamline operations, benefiting both AMP and SS&C. The partnership signifies a commitment to advancing investment management capabilities, reinforcing SS&C's position in the financial services sector.
On March 9, 2022, SS&C Technologies Holdings (Nasdaq: SSNC) launched GoCentral, a next-generation fund administration platform. This platform employs Artificial Intelligence and Business Process Re-engineering to enhance fund operations and improve exception management processes. The new solution provides seamless workflows, operational transparency, and comprehensive control, allowing clients to focus more on growth and less on operations. SS&C aims to modernize middle office operations and improve resilience for alternative asset managers.
SS&C Technologies (Nasdaq: SSNC) will present at the Raymond James Institutional Investors Conference on March 8, 2022, at 2:50 pm ET. The presentation will be led by Bill Stone, Chairman and CEO. SS&C Technologies is a global provider of software and software-enabled services for the financial services and healthcare industries, with 18,000 organizations relying on their expertise and technology. Webcasts and presentation materials will be accessible on their investor relations website.
SS&C Technologies Holdings (Nasdaq: SSNC) announced that Elevar Equity, a venture capital firm focused on emerging markets, has selected SS&C GlobeOp as its fund administrator. This partnership aims to enhance operational efficiencies across various fund structures, enabling Elevar to concentrate on strategic growth. Elevar invests in entrepreneurs addressing inclusivity and affordability, impacting low-income communities in regions including India and Latin America. SS&C will provide investor services technology and performance reporting tools to support Elevar's mission.
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