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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 (Nasdaq: SSNC) has introduced a new workforce optimization solution in collaboration with ActiveOps. This product aims to enhance productivity and support employee well-being in remote and hybrid work settings. By integrating data analytics and management tools, companies can uncover inefficiencies and improve operational performance. General Managers from both companies emphasize the importance of intelligent tools to adapt to the evolving work environment, making it crucial for businesses to leverage these insights for better decision-making.
SS&C Technologies announced that the SS&C GlobeOp Forward Redemption Indicator for October 2021 reached an all-time low of 1.56%, a decrease from 2.45% in September. This marks the lowest monthly redemption level since the Indicator's inception in 2008 and represents a significant year-over-year improvement from 2.84% recorded in October 2020. The company sees this as a positive trend for hedge fund asset growth, continuing a series of 16 months of year-over-year reductions. The next report will be published on November 16, 2021.
On Oct 20, 2021, SS&C Technologies announced that DDH Graham Limited, a fund management provider in Brisbane, will utilize its Bluedoor SaaS platform for fund administration. This partnership aims to enhance operational efficiency and reduce costs. As part of the collaboration, AMG Super will launch the Acclaim Super & Pension product on Bluedoor, improving advisor and member engagement through enhanced self-service capabilities. SS&C's Bluedoor platform supports digital operations and automates processes for a better user experience.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) will announce its third quarter 2021 financial results on October 28, 2021, after market close. An earnings conference call will follow at 5:00 p.m. Eastern Time on the same day to discuss the results. Interested parties can access the press release through SS&C's website or via PR Newswire. The earnings call will be available for audio replay starting at 8:00 p.m. on October 28 until November 4, 2021. SS&C has a broad clientele in the financial services and healthcare sectors, providing software solutions and services.
SS&C Technologies Holdings (Nasdaq: SSNC) announced that Bradesco Securities, Brazil's brokerage arm, has chosen SS&C MarketTrader as its core order management system. MarketTrader will enhance Bradesco's multi-asset trading capabilities, facilitate compliance with CAT and MiFID II reporting, and ensure seamless broker access via SS&C FIXLink. Bradesco expressed satisfaction with the system's user-friendliness and the smooth migration process conducted by SS&C, which reinforces their partnership moving forward.
On October 4, 2021, SS&C Technologies (Nasdaq: SSNC) announced a strategic partnership with Mammoth Scientific, a venture capital firm, to administer its inaugural $100 million health science and technology fund. This collaboration aims to provide venture capital to companies moving beyond seed funding. Mammoth Scientific, seeking to democratize early-stage alternative investments, chose SS&C for its proven expertise in private markets and innovative solutions, including fund administration and technology support.
SS&C Technologies Holdings announced that 8.2% of global mergers and acquisitions (M&A) deals leaked before official announcements in 2020, down from 8.7% in 2019. The SS&C Intralinks 2020 M&A Leaks Report revealed that leaked deals were valued at $69 billion, a 50% decline from $139 billion in 2019. South Korea, India, and Hong Kong led in leaked deal activity. Leaked deals attracted more rival bids and completed faster than non-leaked deals. The report analyzed 14,288 M&A transactions conducted from January 1, 2009, to December 31, 2020.
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