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 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.
SS&C Technologies (Nasdaq: SSNC) released its Q2 2022 SS&C Intralinks Deal Flow Predictor, forecasting a decline in M&A activity compared to Q1 2022 across most regions, except for Europe, the Middle East, and Africa, where growth is expected. North America anticipates a slight decrease of 5% from Q1 but a 5-10% increase year-over-year. Asia Pacific and Latin America are expected to underperform, with minimal changes. Despite geopolitical tensions affecting Eastern Europe, global deal flow remains steady. SS&C Intralinks has facilitated USD 35 trillion in financial transactions.
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.
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