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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 reported the SS&C GlobeOp Forward Redemption Indicator for February 2022 at 1.79%, an increase from 1.52% in January. This marks a significant decrease from 2.37% in February 2021, indicating the lowest redemption level for February since the indicator's inception in 2008. Despite declines in equity and fixed income markets, this demonstrates investor confidence in hedge fund managers. The next publication is scheduled for March 21, 2022.
SS&C Technologies Holdings has declared a quarterly dividend of $0.20 per share, maintaining its commitment to shareholder returns. The dividend will be paid on March 15, 2022, to stockholders recorded by March 1, 2022. This consistent dividend payout reflects SS&C's steady financial position and ongoing confidence in its business model.
SS&C Technologies Holdings (NASDAQ: SSNC) reported robust financial results for Q4 and FY 2021, with revenues reaching $1,294.2 million and $5,051.0 million, marking increases of 7.5% and 8.2%, respectively. Operating income rose by 19.2% to $320.2 million for Q4, while diluted EPS saw a remarkable 27.0% jump to $0.94.
The company generated $1,429.0 million in operating cash flow and reduced debt by $519.9 million. Looking ahead, Q1 2022 guidance suggests adjusted revenue between $1,258 million and $1,298 million, bolstering confidence in future growth.
SS&C Technologies Holdings (NASDAQ: SSNC) has been chosen by ProFunds to provide 18f-4 risk analytics for the new Bitcoin Strategy ProFund (BRCFX), the first publicly available U.S. mutual fund linked to bitcoin performance. The collaboration allows ProFunds to meet SEC compliance requirements for derivatives. SS&C's Algorithmics Managed Data and Analytics Service will support advanced risk analytics across various asset classes, including cryptocurrency. With over $60 billion in assets managed, ProFunds aims to enhance investor opportunities in the crypto market.
On February 1, 2022, SS&C Technologies (Nasdaq: SSNC) announced the renewal and expansion of its transfer agency contract with RBS Collective Investment Funds Limited, a subsidiary of NatWest. This agreement involves the migration of over 800,000 investor portfolios, including more than 700,000 child trust funds. The expansion will introduce new digital services, including mobile applications and a Digital Investor portal, aimed at modernizing operations and enhancing client engagement. This collaboration signifies SS&C's commitment to provide innovative solutions for its clients.
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