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 (Nasdaq: SSNC) released findings from the Q2 2021 SS&C Intralinks Deal Flow Predictor, highlighting a positive outlook for M&A activity. Key insights include:
- Asia-Pacific expected to see a 10% increase YoY.
- Europe, the Middle East, and Africa maintaining pre-pandemic levels.
- Latin America likely to witness a decline compared to Q1 2021 but still substantial YoY volume.
- North America predicts a 10% increase in M&A volume.
SS&C Intralinks has facilitated over US$34.7 trillion in transactions.
SS&C Technologies (Nasdaq: SSNC) has announced a quarterly dividend increase to $0.16 per share from $0.14 per share, payable on March 15, 2021, to stockholders of record by the close of business on March 1, 2021. This increase highlights the company's commitment to shareholder returns, especially after generating over $1.1 billion in operating cash flow in 2020, despite challenging market conditions. SS&C continues to prioritize a prudent cash flow strategy in 2021.
SS&C Technologies (Nasdaq: SSNC) announced its participation in three upcoming virtual investor conferences. Rahul Kanwar, President and COO, will present at the Morgan Stanley Technology, Media & Telecom Conference on March 1, 2021, at 11:00 am ET. Bill Stone, CEO, will present at the Raymond James Conference on March 3, 2021, at 1:20 pm ET. Lastly, Patrick Pedonti, CFO, will speak at the Evercore ISI Payments & Fintech Forum on March 4, 2021, at 2:00 pm ET. Webcasts will be accessible on the company's investor relations site.
SS&C Technologies (Nasdaq: SSNC) has been chosen by SumRidge Partners to implement its Risk & Compliance Intelligence Platform (RCI) for managing compliance with FINRA and Reg NMS. RCI offers robust transaction and portfolio monitoring, integrating data across the organization for efficient compliance operations. SumRidge, a leading fixed income market maker, seeks to enhance its surveillance capabilities with RCI's automated features, leveraging its extensive compliance test libraries. This partnership underscores SS&C's commitment to delivering innovative compliance solutions in the financial services sector.
SS&C Technologies Holdings reported a Forward Redemption Indicator of 2.37% for February 2021, marking an increase from 1.78% in January. This represents a 16% reduction in redemption notices year-over-year and the lowest February level since 2006. Hedge fund asset retention has remained strong post-COVID-19, indicating investor confidence. The next publication is set for March 19, 2021. The company notes that the indicator reflects actual investor redemption notifications that typically come 30-90 days ahead of redemption dates.
SS&C Technologies (NASDAQ: SSNC) reported its financial results for Q4 and FY 2020. Revenue for Q4 was $1,203.4 million, virtually unchanged YoY, while FY 2020 revenue rose 0.8% to $4,667.9 million. Operating income increased 2.8% in Q4 and 7.8% for the full year. Diluted EPS grew by 37% in Q4 and 41.6% for FY 2020. The company generated $1,184.7 million in operating cash flow despite a decline compared to 2019. Guidance for Q1 2021 forecasts adjusted revenue between $1,158 million and $1,198 million, reflecting cautious optimism amid ongoing pandemic challenges.
SS&C Technologies (Nasdaq: SSNC) announced significant updates to its Eze Investment Suite, enhancing features to boost productivity and flexibility for clients. Key highlights include a new mobile app, improved trade synchronization, and enhanced fixed income analytics. The company reported a 40% increase in order flow driven by higher equities trading volumes. SS&C invested tens of millions in these enhancements and appointed James Griffin as head of global sales for Eze. The investment suite is recognized as a critical tool for firms like Donoghue Forlines, reflecting its importance in the investment management technology market.
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