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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 (Nasdaq: SSNC) reported a Forward Redemption Indicator of 2.49% for March 2021, an increase from 2.37% in February and lower than 3.11% for March 2020. This marks the ninth consecutive month of improved year-over-year comparisons, demonstrating strong hedge fund asset retention. The indicator reflects the percentage of redemptions received from investors in hedge funds, indicating stable investor confidence. SS&C GlobeOp's assets under administration represent approximately 10% of the hedge fund sector.
On March 18, 2021, SS&C Technologies Holdings announced that a consortium of top retirement firms has chosen SS&C Retirement Solutions to facilitate their in-plan guaranteed income product, "Income America™ 5ForLife." This solution ensures retirement participants receive guaranteed monthly income. The consortium includes American Century Investments, Lincoln Financial Group, Nationwide, and others. SS&C’s Retirement Income Clearing & Calculation Platform will streamline the product distribution across various record-keeping platforms.
SS&C Technologies Holdings (NASDAQ: SSNC) has launched Algorithmics Scenarios-as-a-Service (ScaaS), a subscription-based service for financial risk simulation. This innovative service utilizes machine learning and comprehensive financial risk modeling to offer stress-testing scenarios, particularly addressing the impacts of pandemics like COVID-19. ScaaS provides specialized stress tests over various periods to enable organizations to make informed decisions in volatile markets. Subscribers gain access to a library of current and historical scenarios delivered through a flexible API.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced the appointment of Gautam Moorjani as the head of its newly formed Intelligent Automation Solutions Group. Reporting to Mike Sleightholme, senior vice president and general manager, Moorjani brings extensive experience from PriceWaterhouseCoopers and WorkFusion. The new group aims to enhance digital transformation for clients through technologies like workflow management and machine learning. Moorjani emphasized SS&C's financial strength and global presence, positioning the company to lead in business process management.
SS&C ALPS Advisors announced the transfer of its ETFs, ALPS Clean Energy ETF (ACES) and ALPS Disruptive Technologies ETF (DTEC), from Cboe BZX Exchange to NYSE Arca. The transition is expected to take place around March 29, 2021, with no required action from shareholders. These ETFs currently manage over $14.9 billion in assets.
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SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announces that PPS Investments has selected the Sylvan™ platform to enhance its global performance measurement and attribution capabilities. This decision will support $2.74 billion in assets under management (AUM) and improve decision-making processes through Sylvan's advanced features, including multi-currency and multi-asset attribution. Key stakeholders expressed confidence in Sylvan's ability to drive efficiency and better insights.
SS&C Technologies (Nasdaq: SSNC) announced that Eleva Capital, an independent investment manager based in Paris and London, has selected SS&C's Eze Investment Suite for its expanding fixed income operations. Eleva has incorporated its newly launched funds, ELEVA Global Bonds Opportunities and ELEVA Euro Bonds Strategies, into the platform. The Eze suite will assist Eleva in investment processes such as order management, trading, and compliance. Eleva Capital, founded in 2014, currently manages approximately 8 billion euros and focuses on European equities and Global Fixed Income.
SS&C Technologies (Nasdaq: SSNC) has completed the acquisition of Capita Life & Pensions Services (Ireland) Limited, enhancing its global business process outsourcing capabilities. The acquisition adds approximately 370 employees in Dublin, Belfast, and Craigforth, bringing extensive expertise in business process management, technology, and consultancy services for the international life and pensions sector. This move positions SS&C to address the complexities of retirement assets more effectively, expanding its footprint and depth in multi-jurisdictional servicing.
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