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 (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.
SS&C Technologies announced an increase in its offer to acquire Mainstream Group Holdings for A$2.35 per security, implying an enterprise value of approximately A$346 million (or US$270 million). Mainstream's board intends to support this amended scheme unless a superior proposal arises. The acquisition is expected to close in Q3 2021, contingent on shareholder and regulatory approvals. Mainstream administers funds for over 176,000 investors globally, managing assets worth A$272 billion.
SS&C Technologies announced an amendment to its acquisition offer for Mainstream Group at A$2.25 per share, following a competing offer of A$2.20 from a third party. The revised scheme of arrangement will be supported by Mainstream’s board, pending an independent expert's assessment of its benefits for shareholders. The acquisition values Mainstream at approximately A$332 million (US$259 million) and is set to close in Q3 2021, subject to shareholder and regulatory approvals. Mainstream provides diverse investment administration services globally.
SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) announced its Q1 2021 financial results, reporting a revenue of $1,233.4 million, a 5.1% increase year-over-year. Operating income rose by 23.0% to $269.1 million. Diluted earnings per share surged 75.7% to $0.65. Adjusted revenue also increased, reaching $1,235.4 million. The company generated $185.7 million in operating cash flow, up 25.7% from Q1 2020. Notably, SS&C completed the acquisition of Capita Life and Pension Services and raised its quarterly dividend by 14.3%. Guidance for Q2 2021 projects adjusted revenue between $1,190.0 and $1,230.0 million.
SS&C Technologies Holdings announced updates across its entire SS&C Advent solutions line on April 26, 2021. These enhancements aim to improve reporting and operational efficiencies for clients. Key features include improved workflows in Advent Portfolio Exchange, introduction of a REST API in Geneva, enhanced exception management processes in Lumis, and tax-efficient portfolio management in Advent Genesis. The updates emphasize flexibility, scalability, and streamlined processes to meet evolving client needs.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) reported that its Forward Redemption Indicator for April 2021 is 2.07%, a decrease from 2.49% in March. This marks a significant improvement, being the second lowest April figure since 2006 and down from 3.02% a year ago. The trend shows ten consecutive months of lower year-over-year redemptions, indicating strong asset retention in the hedge fund industry. The Indicator reflects confidence among hedge fund investors as SS&C's total assets under administration represent approximately 10% of the hedge fund sector.
SS&C Technologies announced its acquisition of Mainstream Group Holdings for A$2.00 per share, resulting in an enterprise value of approximately A$296 million (US$225 million). This acquisition follows the expiration of Vistra Group's matching rights, allowing SS&C's Scheme Implementation Deed to take effect. Mainstream provides investment administration services globally, supporting over 1,200 funds and 157,000 investors with A$224 billion in assets under administration. The acquisition is set to enhance SS&C's offerings and is expected to close in Q3 2021, pending regulatory approvals.
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