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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), a provider of software and services for financial services and healthcare, announced that Bill Stone, Chairman and CEO, will present at the J.P. Morgan 49th Annual TMC Conference on May 26, 2021, at 3:40 pm ET. The presentation aims to highlight the company's technological advancements and industry insights. A webcast will be available on their investor relations website.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C supports over 18,000 organizations globally.
SS&C Technologies Holdings (Nasdaq: SSNC) has declared a quarterly dividend of $0.16 per share. This payout aligns with the company's ongoing quarterly dividend policy. The dividend will be distributed on June 15, 2021, to shareholders recorded by the end of business on June 1, 2021. SS&C, headquartered in Windsor, Connecticut, serves over 18,000 clients globally, showcasing its critical role in providing services and software for the financial services and healthcare industries.
SS&C Technologies (Nasdaq: SSNC) has announced a five-year extension of its transfer agency services relationship with Davis Advisors, managing over $30 billion AUM. SS&C Global Investor and Distribution Solutions will continue to provide crucial BPO and transfer agency services, focusing on fraud prevention and improved digital communication strategies. Davis Advisors highlighted SS&C's innovative technology and commitment to operational excellence. This partnership is expected to enhance the service efficiency and technological capabilities for both firms.
SS&C Technologies (Nasdaq: SSNC) announced that Producer's National Corporation (PNC) has selected SS&C SmartSource to enhance its accounting and operations for alternative and fixed income investment portfolios. This platform will support PNC's three insurance companies: Unique Insurance, Viva Seguros, and Stonegate. SS&C SmartSource's AI-driven capabilities will allow PNC to diversify its asset classes while ensuring operational transparency and regulatory compliance, backed by SS&C's 35 years of insurance expertise.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has amended its agreement to acquire Mainstream Group Holdings Limited (ASX: MAI) for A$2.61 per share, reflecting an enterprise value of approximately A$384 million (US$296 million). The acquisition is subject to approval from Mainstream shareholders and regulatory bodies, with a target closure in Q3 2021. Mainstream provides investment administration and related services globally, managing 1,364 funds and over 176,000 investors, with A$272 billion in funds under administration.
SS&C Technologies (Nasdaq: SSNC) has amended its acquisition proposal for Mainstream Group Holdings (ASX: MAI), offering A$2.56 per share, totaling an enterprise value of approximately A$376 million (US$290 million). The Mainstream board supports this revised offer pending the conclusion of an independent expert review. However, Mainstream has received a competing proposal of A$2.60 per share and is considering it as a superior offer. The acquisition is subject to customary approvals and is anticipated to close in Q3 2021.
SS&C Technologies (Nasdaq: SSNC) has announced an exclusive partnership with BRODA Ltd. to integrate BRODA's high dimensional Sobol sequence generators into its Algorithmics solutions. This collaboration aims to enhance risk performance for financial services firms by enabling faster and more accurate calculations. The Sobol sequence generators can significantly improve Monte Carlo simulations, meeting the rising demand for efficient data-driven analysis amidst regulatory pressures. The advanced generators are now capable of achieving faster convergence rates without compromising accuracy, benefiting industries like banking and insurance.
SS&C Technologies (Nasdaq: SSNC) announced the transition of Hillman Capital Management's Hillman Value Fund (HCMAX) to the SS&C ALPS Series Trust. The fund, valued at USD 176 million, will be administered by SS&C ALPS Registered Fund Services. CEO Mark Hillman noted that this partnership ensures a smooth transition and positions the fund for growth. SS&C ALPS's comprehensive operating model supports asset managers with services like compliance and fund administration, enhancing scalability and market speed.
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